iD Desk
Addressing the industry and food processing sector investors, the chief minister stated "Today, 3 out of 9 projects are being inaugurated, while the foundation stone is being laid to 6 projects. These projects, with a combined investment of Rs 1,072 crore, are poised to create substantial employment opportunities for 21,079 individuals.”
Addressing the industry and food processing sector investors, the chief minister stated "Today, 3 out of 9 projects are being inaugurated, while the foundation stone is being laid to 6 projects. These projects, with a combined investment of Rs 1,072 crore, are poised to create substantial employment opportunities for 21,079 individuals.”
iD Desk
In a major boost to industry and food sector, Chief Minister YS Jagan Mohan Reddy inaugurated and laid the foundation stone to a total of 9 projects. These initiatives serve as a testament to the government’s steadfast commitment to fostering economic growth and development, with a specific emphasis on the MSME sector.
Addressing the industry and food processing sector investors, the chief minister stated “Today, 3 out of 9 projects are being inaugurated, while the foundation stone is being laid to 6 projects. These projects, with a combined investment of Rs 1,072 crore, are poised to create substantial employment opportunities for 21,079 individuals.”
Emphasizing the achievements within the MSME sector, the Chief Minister underscored, “We have implemented unprecedented measures to bolster the MSME sector, ensuring its resilience even amidst the challenges posed by the COVID-19 pandemic. As of now, 1.88 lakh new MSME units have been established, creating 12.62 lakh jobs—a clear testament to our shared responsibility.
Furthermore, I am delighted to announce that the MSME sector will receive incentives in February 2024.”
Under the ambit of Industries and Commerce, an investment of Rs 670 Cr has been earmarked, with the particular focus on MSMEs. A strategic move to diversify the industrial portfolio, Industrial projects encompass the realms of Pharma, Nutraceuticals, industrial development, and flattened factories complexes and a Common Facility Center in the printing cluster.
“At the Global Investors Summit, we had inked more than 300 MoUs, anticipating investments totaling 13 lakh Cr, that shall generate 6 lakh job opportunities. Presently, 127 projects are being taken up, with 33 already established and functioning. Another 94 projects are rapidly progressing, while other projects are in their initial phases. In the past four and a half years, we have successfully initiated 130 mega projects, attracting investments amounting to Rs 69,000 Cr and providing employment for 86,000 people.
The chief minister further highlighted. Under the guidance of the Chief Secretary, the government have been extending support to industries, with regular bi-monthly review meetings per month convened to monitor the progress of these ventures and expedite their operations.” The chief minister said.
The Chief Minister inaugurated and laid the foundation stone for 4 food processing units with an investment of Rs 422 Cr. The projects encompass the inauguration of an Edible Oil Refinery plant in SPSR Nellore and a Sesame Processing Unit in Vizianagaram. The Chief Minister laid the foundation stone for the Starch Processing unit in Eluru District and the Manufacturing of RTE/RTC products with units being set up in Vizianagaram and Kurnool.
“Notably, a food processing unit, initially promised during my visit to Pattikonda, is now underway, symbolized by the laying of the foundation stone today. Credit is due to the commendable work of the officials involved.” The chief minister said.
