An Overview of Msme Policy of Andhra Pradesh and its Implications on Msme Sector

Abstract

The MSME sector in Andhra Pradesh manufactures a variety of products with a high concentration of Micro and Small units belonging in the Sectors of food, mineral and building materials, drugs and pharmaceuticals, fabricated materials, trading and service sector. According to National Sample Survey (NSS) conducted by National Sample Survey Office, Ministry of Statistics & Programme Implementation during the period 2015-16, there are 33.87 lakh  Micro, Small and Medium Enterprises in the state of Andhra Pradesh, with an over all share of 5% in the Nation’s MSMEs. Andhra Pradesh Government has identified development of MSMEs as a catalyst for job creation and balanced regional development. In this direction, it has introduced its recent MSME policy keeping in view the problems that MSMEs are facing. Hence, an attempt is made in this paper to explain the various general incentives, marketing assistance initiatives, land related incentives, measures taken for addressing sickness and other measures provided by the Government of Andhra Pradesh for strengthening MSMEs in Andhra Pradesh through its policy.