To benefit 97,423 units and their over 12 lakh employees, the Andhra Pradesh Government has released Rs. 1,124 crore as incentives for textile units and MSMEs.
Out of these Rs. 1,124 crore, Rs. 440 crore are for MSMEs and Rs. 684 crore for textile and spinning mills, including the rebate on electricity bills.
YS Jagan Mohan Reddy, the Chief Minister of the state, released this amount.
The CM said that the Government has been embarking to support MSMEs and spinning mills.
The state is working on various projects to attract investment and to create employment as YSR Jagananna Mega Industrial Hub is also being set up on 3,155 acres in Kopparthi. It can have investments worth Rs. 25,000 crore and is expected to create jobs for over 75,000 people.
By inviting investment of Rs. 30,000 crore, the State Government is going to set up a 10,000 MW solar project. The Government is also developing the Krishnapatnam Green Field Industrial Node in an area of 13,000 acres at an estimated cost of Rs. 2139 crore.