Country's progress not possible without developing MSME sector: UP minister Rakesh Sachan

Uttar Pradesh's Cottage, Small and Medium Enterprises (MSME) Minister Rakesh Sachan has said that the country's progress is not possible without developing the MSME sector and the dream of making the state a trillion dollar economy cannot be fulfilled without promoting this sector.

Sachan was addressing the inaugural session of the two-day 'Uttar Pradesh MSME Conference' organized by the industry body 'The Associated Chambers of Commerce and Industry of India' (ASSOCHAM) in Lucknow on Wednesday. He said that the governments of the country and the state are working together to promote MSME. The dream of one trillion dollars is not possible to be fulfilled without the help of MSME. Without this, the country cannot progress.

He said that MSME is the backbone of the country's economy and the government is taking many steps to encourage them. The state government is standing with this sector in every way. Its effort is to make Uttar Pradesh emerge as an enterprise state.

The Cabinet Minister congratulated ASSOCHAM for organizing this two-day 'Uttar Pradesh MSME Conference' on the eve of International MSME Day and said that the government will make every possible effort to implement whatever suggestions come from this program.

He said that after agriculture, MSME is the sector that provides maximum employment. A large number of youth can get employment through this. MSME contributes 30 percent to India's GDP. While its share in exports is also around 50 percent.

Mr. Sachan said that the state government is making efforts to register all the more than 90 lakh MSME units of the state on the government portal. The government has given recognition to local products all over the world through the 'One District, One Product' (ODOP) scheme. Prime Minister Narendra Modi himself has made it a scheme for the whole country.

Referring to the government's efforts to create a land bank in Uttar Pradesh, he said that the government has started a 'Pledge Scheme' to provide cheap land to MSMEs. Many people can join this scheme of MSMEs. There is 100 percent exemption on stamp duty for buying land. Apart from this, the government is also helping in getting all kinds of NOCs.

Mr. Sachan said that the MSME policy of the state is unique in many ways. There is a provision of 50 percent subsidy in interest to MSMEs up to one crore. Apart from this, MSMEs are being helped by running schemes like Pradhan Mantri Mudra Yojana, Standup, Credit Guarantee Scheme. The government is also taking steps to provide marketing assistance and access to the market. Work is also being done for the use of e-commerce platforms, participation in international fairs, and skill development.

Earlier, Sushma Paul Berlia, Chairperson of ASSOCHAM Business Facilitation and Global Competitiveness, delivered the welcome address. She said that the Uttar Pradesh government is continuously encouraging MSMEs by taking steps like interest subsidy and credit guarantee scheme. Under the vision of MSME developed India, ASSOCHAM is organizing 'Uttar Pradesh MSME Conference'. This series will be continued.

He said that the dream of developed India can be fulfilled only by increasing the participation of MSMEs and employment in them. The world is looking for an alternative supply chain. This is an opportunity for us. In this regard, Uttar Pradesh has many opportunities. Under the leadership of Chief Minister Yogi Adityanath, the government is taking many meaningful steps to promote MSMEs. Entrepreneurship is being promoted among women and marginalized people. At present, 1.65 crore people are getting employment from more than 90 lakh MSMEs in Uttar Pradesh. This is the highest in the country.

SIDBI General Manager Manish Sinha said that the Central Government is moving towards making the country's economy the third largest economy. The UP government has set a target of making UP a trillion dollar economy by 2027. In such a situation, the program of 'Uttar Pradesh MSME Sammelan' has been organized at the right time.

He said that when we are moving towards developed India, things should be absolutely clear on the challenges of MSME and a strong strategy has to be made. There are 6.3 crore MSMEs in India. There are more than 90 lakh such units in UP.

Sinha, while mentioning the major challenges facing the MSME sector, said that a large number of units are not in the formalized sector. In such a situation, it becomes difficult to identify their problems. If they have to take advantage of the government schemes, then they will have to be brought into the formalized sector. SIDBI and the government are working a lot in this direction with the cooperation of bankers. We are moving with the goal of formalizing all MSMEs.

Apart from this, Governor Relations Incharge of National Payments Corporation of India Ravikant Sharma, Co-Chairman of ASSOCHAM Business Facilitation and Global Competitiveness Sudhir Panikkassery, Chairman of ASSOCHAM National Council on Leather and Footwear Motilal Sethi, Co-Chairman of Uttar Pradesh Development Council Anupam Mittal and Co-Chairman of ASSOCHAM Uttar Pradesh Development Council Hasan Yakub also addressed the program.