Andhra Pradesh contributes 4.9% to India’s GDP, ranks 9th among state economies, and accounted for Rs. 1.27 lakh crore in exports during H1FY25. Vijayawada: Axis Bank, one of India’s largest private sector banks, hosted the 10th edition of Evolve, its multi-city knowledge series for MSMEs in Vijayawada, Andhra Pradesh. The event gathered entrepreneurs, industry leaders, and policy experts to discuss the opportunities and challenges facing India’s MSME sector under the theme “MSMEs – Powering the $10 Trillion Economy.” With over 150 MSME promoters and MDs present, the session provided an engaging platform for the exchange of ideas and experiences. Mr. Ratul Mukhopadhyay, EVP – SEG Asset, Commercial Banking Group, Axis Bank; Mr.
Sunil Pachlangia, SVP – Treasury Forex, Axis Bank; and Mr. Nuti Chakravarthy, EVP & Regional Branch Banking Head – South 2, Axis Bank, offered insights on economic trends and the role of Vijayawada’s MSME sector in driving Andhra Pradesh’s economic growth and job creation. The panel discussion, moderated by Mr. Priyavrat Sharma, SVP & Business Head – SBB: Working Capital, Axis Bank, included industry voices such as Mr. Phani Kumar Samineni, Executive Director – Sri Anantha Lakshmi Spinning Mills Pvt. Ltd. & Partner – Sri Anantha Lakshmi Textiles; Mr. Narendranath Chebrolu, Founder – Alliance One Industries India Pvt. Ltd. & Delta Technology & Management Services Pvt. Ltd.; and Mr.
Sujit Yalamanchili, Secretary – Chalapathi Educational Society, who discussed the resilience and ambition propelling India’s MSME sector. Through Evolve, Axis Bank delivers practical insights and actionable strategies to assist MSMEs in enhancing operational efficiency, adopting technology, and expanding their market presence. The initiative extends beyond traditional banking, providing entrepreneurs with the tools needed to navigate disruptions and achieve sustainable growth. The program aligns with Axis Bank’s overarching mission to build a future-ready India through collaboration and innovation. Mr. Vijay Shetty, President & Head – Commercial Banking Coverage Group (CBG), Axis Bank, commented, “At Axis Bank, we believe MSMEs are the backbone of India’s economic transformation.
Andhra Pradesh, with over 33 lakh MSMEs and a strong infrastructure, is well-positioned to drive this momentum. Through initiatives like Evolve, we aim to equip entrepreneurs with the right financial solutions, knowledge, and networks to unlock their potential and contribute meaningfully to India’s journey towards a $10 trillion economy.” Andhra Pradesh has become a significant economic powerhouse, with a state GDP of Rs. 16.6 lakh crore and a 5% share in India’s total exports. The state hosts nearly 9% of India’s MSMEs, generating over 27 lakh jobs, with a notable share from women-owned enterprises. Strong infrastructure, supported by ports, corridors, and favorable policies, is positioning Andhra Pradesh as a preferred destination for greenfield industrial investments.
Vijayawada, at the center of this growth, provided an ideal backdrop for Evolve. Known as the Gateway to South India, the city’s strategic location along NH16 and NH65, its major railway junction, and the planned establishment of 11 MSME Parks under the state’s policy further enhance the region’s potential as a hub for industrial growth and connectivity. Over the past decade, Evolve has engaged with over 10,000 entrepreneurs across more than 50 cities, offering them practical strategies to adopt technology, improve operational efficiency, and scale their businesses sustainably. By creating knowledge-sharing platforms and facilitating connections with industry leaders, the program continues to empower MSMEs to adapt to changing market dynamics and seize new growth opportunities.