COVID-19 Facts, Problems and Policies of MSMEs in Andhra Pradesh

Industry is a branch of trade or manufacturing activity which is generally concerned with production of goods for market. Industrial activity invariably includes mechanical invention and technological innovation operate by the employees that help maximum production with minimum expenditure. To achieve rapid industrialization, sincere efforts are needed in developing countries to mechanize the manufacturing processes more and more to get their people trained in modern technology and to promote research for finding improved techniques of production. Andhra Pradesh is a state in the south-east region of India, bordering Telangana in the north, Tamil Nadu in the south, Karnataka in the west and Odissa to the north east. Hyderabad is used to be the capital of Andhra Pradesh till state bifurcation of Telangana in the year 2014. MSMEs contribute 8 percent of the country’s GDP and 45 percent of the manufacturing output and 40 percent of export. Therefore, it occupies the second place after agriculture sector in the state. Ever since the lockdown announced majority of the MSMEs industries are closed down which are providing more than a million employment. Due to this lockdown all these employees become jobless temporarily. An outbreak of the COVID-19 a deadly virus not only caused huge loss to mankind all over the world, but also adversely affecting the global economy