MSME is the Growth Engine of Economic Development: Industries Minister, Mr. P. Meena

On the onset of the International MSMEs Day, today Mr. P. Meena, Rajasthan’s Industries Minister appreciated the MSMEs contribution to the state as its been the key ecosystem for the state’s growth. The second highest employment generator medium in the country is MSME sector after Agriculture, he said.

Rajasthan’s Industries department has achieved a significant milestone of registering memorandum (Udhyog Aadhar) of 1.5 Lakhs of MSMEs in FY 19-20 in 36 DICs and these MSMEs gave employment to 6.17 lakh workers in the FY19-20. Top five destinations of MSME Investments in the FY 19-20 were Jaipur (25K+ Units), Jodhpur (12.8K+ Units), Ajmer (8.4K+ Units), Bhilwara (7.6K+Units) and Udaipur (6.6K+ Units). The Chief Minister’s Small Scale Industries Promotion Scheme, MSME Act 2019 has been declared as flagship programmes Through RajUdhyog Mitra portal, any MSME Industries would now get Acknowledgment Certificate as soon as they will apply for it. Also, all departments will be free from inspection for the next three years. About 5000 such MSMEs have registered through RajUdhyog Mitra and are taking benefits of this scheme of the State Govt.

Mr. P. Meena, Industries Minister of Rajasthan said, “As per the report of International Council of Small Business, about 70% direct or indirect employment generation is blessed by the MSME sector. Today on this special day, I would like to reiterate that under Rajasthan Government’s MSMEs Policy small and medium businesses can avail 8% subsidy on the loan upto 10 crore. Since, MSMEs sector is the real growth engine of Economic Development, we acknowledge the sector’s contribution to the state.”

Dr. Subodh Agarwal, ACS Industries, Rajasthan Government said, “We acknowledge the efforts of the MSME players in the state who have played a vital role in fighting against COVID19. During COVID19 pandemic, the MSMEs were hit heavily due to migration of their labourers. In the state over 56,000 such MSMEs have again started their operations and nearly 3 lakhs of labourers are employed back.”

During this pandemic, MSMEs have shifted their focus to the new innovations with their existing setup. Apparel manufacturers, umbrella manufacturers, perfume manufacturers have started production of high quality masks, PPE Kits and hand sanitizers respectively.

Jaipur based Padmavati Industries, Dungarpur based New Zeal company and Falna-Pali based Umbrella Industries are amongst those that have taken COVID19 as an opportunity to contribute to the world and have started producing masks, hand sanitizers and PPE Kits looking to the domestic and global demand.

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