Vijayawada, May 25 (IANS) Andhra Pradesh Chief Minister N. Chandrababu Naidu on Monday said that the government would promote one crore entrepreneurs under the ‘one family-one entrepreneur’ initiative.

He stated that the state government was giving top priority to the MSME sector and had released incentives worth Rs 558 crore so far.

The Chief Minister virtually laid the foundation for 38 MSME parks.

Later, addressing the ‘one family-one entrepreneur’ MSME Growth Summit 2026, he stated that the MSME sector plays a key role in the country’s development and that youth should develop innovative thinking to become entrepreneurs.

Stating that the state government is giving top priority to youth and women empowerment, he said the MSME sector paves the way to fulfil the innovative ideas and dreams of youth.

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 told the summit that the government had made resources more accessible to MSMEs and introduced dedicated MSME and private industrial park policies to accelerate industrial growth.

The Chief Minister said the summit had brought startups, industrial units, experts, and banks onto a single platform to create a stronger industrial ecosystem.

Stressing the importance of 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.

Referring to women’s economic empowerment, Chandrababu 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.

He said startups would be promoted through the Ratan Tata Innovation Hub and set a target of creating 100 unicorns in Andhra Pradesh.

The Chief Minister emphasised 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 for a circular economy in which industrial waste from one industry becomes a raw material for another, helping build a strong MSME ecosystem.

The Chief Minister said banks had extended loans worth over Rs 2.11 lakh crore to MSMEs, while central schemes such as PM Mudra, Stand-Up India, and Vishwakarma were also supporting entrepreneurs.

He said Andhra Pradesh had launched a special action plan under its Credit Guarantee Scheme to facilitate loans worth Rs 5,000 crore and was 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 had signed agreements with several global technology companies.

He 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.

–IANS

ms/dan