Andhra Pradesh Government will extend loans of up to ₹1 crore to encourage aspiring entrepreneurs as part of initiatives to promote Micro, Small and Medium Enterprises (MEMEs) in the State, Chief Minister N Chandrababu Naidu said.
He was speaking the MSME Summit organised by the State Government in Vijayawada on Monday after formally laying foundation stone for 38 MSME Parks across the State as part of a plant to develop 175 MSMEs parks in all mandalas of the State. MSMEs must become key players in sectors such as space, defence and aerospace and the youth and educational institutions should leverage quantum technologies.
For balanced regional development, Visakhapatnam was being developed into a global data centre hub, with major industries including steel, aluminium and rare earth minerals expected to strengthen the region’s industrial base while Amaravati would emerge as a Quantum Valley with plans to manufacture quantum computing equipment.
Defence corridor
The region stretching from Puttaparthi to Bengaluru would evolve into a defence corridor and announced that a fifth-generation fighter jet testing facility would be established in Rayalaseema soon.
The State government was investing ₹40,000 crore to transform Rayalaseema into a horticulture hub and develop destinations such as Suryalanka Beach and Gandikota into world-class tourism attractions, Naidu said, adding: “Our government follows the model of signing, grounding and opening industries.’’
Published on May 25, 2026