Uttar Pradesh to give a big push to MSME sector

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Lucknow,August 31: The Uttar Pradesh government has proposed to give a  big push to Micro,Small and Medium Enterprises sector which contributes 60 per cent to its industrial output and employs millions. Additional loan is one of the current requirements and it is working on how to provide this facility.

Entrepreneurs may be also provided business credit cards for online payments for raw materials and other goods and services.One District,One Product or ODOP scheme which has been launched recently will also benefit from this proposal.

This sector is a new focus area mainly due to its export potential.According to official sources,it had registered six per cent growth in 2017-18 to touch Rs 890 billion.The growth rate is likely to be higher this fiscal due to new incentives which will be offered to them.

 The ODOP scheme, which is aimed at promoting  traditional industries,has drawn support from all quarters.It has earned popularity in just a few months.A conference was held  here two days ago to discuss problems facing it to give further push to the scheme.It has been drawn on the lines of  Make in India plan.

 The ODOP which forms a part of  the SMSE sector plays a major role in boosting state’s economy. Presently,there are  over five million MSMEs in the state,providing direct and indirect employment to many.

Ten districts including Agra, Kanpur City, Kanpur Dehat, Hamirpur and Fatehpur have ODOP clusters.

Some of the famous UP products include silk sari,carpet,chikan  and leather foot-wears. Moradabad’s brassware  is also highly in demand.While silk sari is produced in Varanasi,carpet is manufactured in Bhadohi. Agra and Kanpur are known for foot-wares.

It may be recalled that at the  Investors Summit held in the state last year as many as  348 Memorandums of Understanding or  MoUs  were signed for setting up micro,small and medium industries.