SMEs suffer most in cyclone-hit Andhra: ASSOCHAM Industry lobby ASSOCHAM has suggested that the Andhra Pradesh and central governments to constitute a rehabilitation team to support industry in cyclone-hit north coastal Andhra. Expressing the apprehension that the massive damages suffered by both large and small firms in Visakhapatnam, Srikakulam and Vijayanagaram districts could lead to industrial sickness, it urged both the government to make joint efforts to bring back industrial activity on the path of normalcy. ASSOCHAMs secretary general D.S. Rawat in this regard submitted a paper to Andhra Pradesh Chief Minister N. Chandrababu Naidu. ASSOCHAM noted that micro, small and medium enterprises (MSMEs) play a dominant role in the three cyclone affected districts. Visakhapatnam district has been a vibrant hub of MSME activity. The MSME sector has thrived there due to the presence of key large industries in the area apart from those representing the traditional economic base, the paper said. It pointed out that north coastal Andhra has 1.06 lakh MSME units with an investment of Rs.16,912 crore, providing employment to 11.65 lakh people. The region also has 1,727 large and mega industries with an investment of nearly Rs.77,000 crore and employment to 4.14 lakh people.
Posted on: Sat, 18 Oct 2014 05:57:37 +0000
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