President Ram Nath Kovind launches ODOP Summit in Lucknow

Lucknow: President Ram Nath Kovind launched the One District, One Product (ODOP) Summit here on Friday with a hope that this scheme will create a large number of employment opportunities for the youth and strengthen the inclusive and sustainable development of Uttar Pradesh.

Speaking on the occasion, the President said that micro, small and medium enterprises are called the backbone of our economy. These enterprises are engines of inclusive development. After the agricultural sector, most people find employment in this sector. This sector generates more employment opportunities at a lower cost of capital. And the most important thing about this sector is that it creates jobs in rural and backward areas.

The President noted that under the ‘One District One Product’ scheme, the state government has set a goal of providing employment to 25 lakh people in five years through the financial assistance of Rs. 25,000 crores.

The summit saw state government offering Rs 1,000-crore soft loans to artisans, craftsmen and entrepreneurs. It’s mostly the most-backward castes (MBCs) and schedule castes (SCs) that are associated with traditional industries.

ALSO READ: China could overtake Australia as biggest donor to Pacific nations

The president was received by CM Yogi and UP governor Ram Naik along with other dignitaries early in the morning.

The ODOP project aims at promoting traditional businesses, such as lock industry in Aligarh, silk-weaving in Varanasi and biscuit-making in Amethi.

It is to be mentioned that Uttar Pradesh is the first state to hold such a summit in the country.