US-based SME Consortium to invest Rs 2,500 crore in AP

Hyderabad, Aug 28 (UNI) Small and Medium Enterprises Consortium (SMEC), a group of elite entrepreneurs from various parts of the globe, particularly the US, today announced that it will invest Rs 2,500 crore and generate 25,000 job opportunities in Andhra Pradesh.

SMEC Chairman Mahendar Reddy Musuku, in a release here, said several entrepreneurs hailing from Andhra Pradesh were operating start up companies to consulting units to global outfits in the US and most of them had offices in Hyderabad.

''We have hence formed a Consortium so that these small and medium entrepreneurs will come together, develop and avail common facilities for a better and faster growth,'' he said.

New Jersey Deputy Speaker Upendra Chivukula said ''Indian Americans are playing a very active role in the US. They have grown from getting employment stage to creating enterprises stage.'' Mr Chivukula is the first Asian Indian American elected to the New Jersey General Assembly and the fourth Indian American in the US to be elected to State office.

UNI