Andhra Pradesh Accelerates MSME Growth with ₹14.5-Crore Flatted Factory Complex in Visakhapatnam
मुख्य बातें
- •Andhra Pradesh District Collector M. Abhishikth Kishore inaugurated a ₹14.5-crore Flatted Factory Complex in Visakhapatnam to boost MSMEs under the “One Family, One Entrepreneur” initiative.
- •Chief Minister N. Chandrababu Naidu virtually launched 38 industrial parks across the state, with six foundation stones laid in Visakhapatnam district.
- •Over 60% of the state’s ₹10-lakh crore investment pipeline is directed toward the nine districts of the Visakhapatnam Economic Region.
- •Under the MSME policy, units investing up to ₹10 crore can reclaim up to 75% through subsidies, and buyers must clear dues within 45 days or face penal interest.
Visakhapatnam, May 25, 2026: In a major push to strengthen Micro, Small, and Medium Enterprises (MSMEs), the Andhra Pradesh government has inaugurated a ₹14.5-crore Flatted Factory Complex (FFC) at Kancharapalem in the Visakhapatnam North constituency. The initiative was launched by Visakhapatnam District Collector M. Abhishikth Kishore during a ceremony held on Monday. Speaking at the event, Mr. Kishore emphasized the state’s commitment to fostering grassroots entrepreneurship through the “One Family, One Entrepreneur” initiative, a flagship program aimed at nurturing local business talent.
The foundation stone-laying ceremony coincided with a virtual launch event in Vijayawada, where Chief Minister N. Chandrababu Naidu inaugurated 38 new industrial parks across the state. In Visakhapatnam district, six out of seven sanctioned Small and Medium Enterprise (SME) parks have now had their foundation stones laid, with the Pedagantyada park already operational. Additionally, the district administration is in active negotiations with the Visakhapatnam Port Authority to secure land for a new logistics park in the southern segment of the city.
