Cites Sri City as a successful industrial model
Highlighting the role of MSMEs in powering economic growth, Chief Minister Mr N Chandrababu Naidu stated that the MSME sector plays a key role in development of the country and youth should develop innovative thinking to emerge as entrepreneurs.
Addressing the MSME growth summit 2026 the Chief Minister set a target to promote one crore entrepreneurs under one family- one entrepreneur norm introduced by the state government.
At the summit he inaugurated Dr BR Ambedkar Kalavedika and laid the foundation (virtually) for 38 MSME parks.
Incentives
Noting that the state government is giving top priority for the MSME sector he cited the release of Rs 558 crore incentives so far and added that the AP Cluster development programme will be started with Rs 200 crore.
Underscoring the role of MSMEs, Chandrababu Naidu said MSMEs alone have the potential to transform a small idea into a large industry and noted that the sector is the second-largest employment generator in the country after agriculture.
He said the government has made Andhra Pradesh’s resources more accessible to MSMEs and introduced dedicated MSME and private industrial park policies to accelerate industrial growth.
Stressing entrepreneurship, he called for large-scale industrial units under the “One Family, One Entrepreneur” initiative.
The Chief Minister said the state would also extend incentives to private industrial parks, citing Sri City as a successful industrial model.
Women Empowerment
Referring to women’s economic empowerment, Mr Naidu said women’s self-help groups currently hold a corpus of Rs 28,000 crore and announced plans to transform five lakh women from DWCRA groups into entrepreneurs this year.
RTIH
He said startups would be promoted through the Ratan Tata Innovation Hub and set a target of creating 100 unicorn companies from Andhra Pradesh.
The Chief Minister emphasized that the future belongs to the knowledge economy and called on youth and industries to embrace emerging opportunities.
He reiterated the government’s slogan, “Village to Global Market,” and advocated a circular economy where industrial waste from one industry becomes raw material for another, helping build a strong MSME ecosystem.
Financial Help to MSMEs
The Chief Minister said banks have extended loans worth over Rs 2.11 lakh crore to MSMEs, while central schemes such as PM Mudra, Stand-Up India and Vishwakarma are also supporting entrepreneurs.
He said Andhra Pradesh has launched a special action plan under its Credit Guarantee Scheme to facilitate loans worth Rs 5,000 crore and also making efforts to revive struggling MSMEs.
The Chief Minister announced a special programme to encourage aspiring entrepreneurs by extending loans of up to Rs 1 crore.
He said the government has signed agreements with several global technology companies.
Defence & Quantum
Mr Naidu stressed that MSMEs must become key players in sectors such as space, defence and aerospace. Referring to upcoming advanced technologies in Amaravati, he said youth and educational institutions should leverage quantum technologies.
Outlining the government’s three-region development strategy the Chief Minister said Visakhapatnam is being developed into a global data centre hub, with major industries including steel, aluminium and rare earth minerals expected to strengthen the region’s industrial base.
He stated that Amaravati would emerge as a Quantum Valley, with plans to manufacture quantum computing equipment.
CM Naidu also said the region stretching from Puttaparthi to Bengaluru would evolve into a defence corridor and announced that a fifth-generation fighter jet testing facility would be established in Rayalaseema within 36 days.
Horticulture Hub
The Chief Minister said the government is investing Rs 40,000 crore to transform Rayalaseema into a horticulture hub and develop destinations such as Suryalanka Beach and Gandikota into world-class tourism attractions.
He said Andhra Pradesh had attracted investments worth Rs 23 lakh crore in 23 months.
“Our government follows the model of signing, grounding and opening industries,” the Chief Minister said, adding that five more convention centres similar to the newly inaugurated facility would be built across the state.
Ministers Mr TG Bharath, Mr Kondapalli Srinivas, Mr Dola Sree Balaveeranjaneya Swamy, MP Mr Kesineni Shivnath, MLA Mr Bonda Umamaheswara Rao along with many other dignitaries participated.
