• 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 the largest private sector banks in India, hosted the 10th edition of Evolve, its multi-city knowledge series for MSME’s in Vijayawada, Andhra Pradesh. The event brought together entrepreneurs, industry leaders, and policy experts to discuss opportunities and challenges shaping India’s MSME landscape under the theme “MSMEs – Powering the $10 Trillion Economy”.

With over 150 MSME promoters and MDs in attendance, the session served as 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, shared perspectives 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, featured industry voices including 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 reflected on the resilience and ambition shaping India’s MSME sector.

Through Evolve, Axis Bank provides practical insights and actionable strategies to help MSMEs enhance operational efficiency, embrace technology, and expand market presence. The initiative goes beyond conventional banking, equipping entrepreneurs with tools to navigate disruptions and scale sustainably. The program aligns with Axis Bank’s broader mission of building a future-ready India through collaboration and innovation.

Commenting on the initiative, Mr. Vijay Shetty, President & Head - Commercial Banking Coverage Group (CBG), Axis Bank, said, “At Axis Bank, we believe MSMEs are the backbone of India’s economic transformation. Andhra Pradesh, with over 33 lakh MSMEs and robust infrastructure, is uniquely 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 emerged as 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 accounts for nearly 9% of India’s MSMEs, generating over 27 lakh jobs, with women-owned enterprises making up a significant share. Strong infrastructure, backed by ports, corridors, and supportive policies, is establishing Andhra Pradesh as a preferred destination for greenfield industrial investments.

Vijayawada, at the heart of this growth, offered a fitting backdrop for hosting Evolve. Known as the Gateway to South India, the city’s strategic location along NH16 and NH65, its major railway junction, and the planned development of 11 MSME Parks under the state’s policy further reinforce the region’s potential as a hub for industrial growth and connectivity.

Over the past decade, Evolve has connected with over 10,000 entrepreneurs across 50+ cities, providing them with practical strategies to embrace technology, improve operational efficiency, and scale their businesses sustainably. By fostering knowledge-sharing platforms and facilitating connections with industry leaders, the program continues to empower MSMEs to navigate changing market dynamics and seize new growth opportunities.