Senior YSRCP leader, member of Parliament Rajya Sabha and Chairman parliamentary standing committee on commerce, Mr Viajayasai Reddy urged industry to move ahead and identify opportunities for growth and development.
‘It is for the industry to see the opportunity and the Government to support it’ said the Chairman of parliamentary standing committee on Commerce.
Addressing a webinar organized by Vizag Industrial Scan in association APIS (AP Innovation Society) and TiE AP chapter Mr Vijayasai Reddy highlighted the Government of Andhra Pradesh’s Re-start package as a major step towards helping and supporting industry in Andhra Pradesh.
‘The Re-start package announced by our government comprising of a slew of incentives along with the release of pending SME dues to the tune of Rs 1000 crores has been a strong example of our government’s stance to help industry in times of need.
This package is aimed at putting MSMEs back on track and help them address the liquidity crisis’ said the senior YSRCP leader.
“The Re-start package announced by our government in Andhra Pradesh is a strong example of our government’s stance to help industry in times of need”
And to help the micro and small enterprises the government has come out with PMA (preferential market access) wherein all state government departments will have to source at least 25% of all their annual requirement of goods from eligible MSMEs.
This he opined will help further provide an impetus to local MSMEs in getting orders and business.
India needs to improve EoDB
Commenting on the ease of doing business parameter he said that India has a long way to go and needs to do much more in terms of improving its ranking.
‘We might have the best policy on paper but implementation in the right spirit is key’.
India is ranked in the 63rd position in the world in terms of ease of doing business.
“We need to improve India’s EoDB ranking. Out of 56 cos that relocated out of China between April’18 and Aug’19 only 3 came to India.”
‘What is often said about our single window clearance is that there are multiple windows behind the single window clearance. This needs to change and we need to truly become efficient and less cumbersome in our paperwork’ said Mr Reddy.
‘56 manufacturing companies relocated out of China between April 2018 and August 2019 and only 3 came to India. Countries like Vietnam, Taiwan and Thailand took the majority of those companies that shifted out. We therefore need to understand and evaluate as a country how to attract companies here’ he said.
Innovation in AP
Talking on Innovation and Entrepreneurship he cited the example of Silicon Valley and stated that it is because of the right eco-system Silicon Valley is what it is today.
‘We are building an eco-system here too in Andhra Pradesh. We envision of having an eco-system comprising of Researchers, Venture capitalists, Angel investors, incubators etc. that will enhance the development of startups and innovators’ said Mr Vijayasai Reddy
“We are building an eco-system for startups in AP”
We are also creating awareness among the student community and providing necessary infrastructure however I must caution that this change will not happen overnight he said.
He informed that AP skill development corporation has tied up with top US universities to launch entrepreneurship development programs for students.