Ease of Doing Business for MSMEs: Uttar Pradesh Global Investors Summit 2023 saw 9,000 Memoranda of Understanding (MoUs), out of the total 19,000, signed from the MSME sector, reported ANI.
The state government’s flagship investment summit that concluded on February 12, brought together policymakers, industry leaders, academia, think tanks and leaders from across the world to explore business opportunities and forge partnerships in the state, the report said.
While the target of Rs 1.25 lakh crore was set for the MSME sector, the Uttar Pradesh government signed 8,829 MoUs worth Rs 1.37 lakh crore with investors, said the state government.
The statement further mentioned, “It is worth mentioning here that as many as 95 lakh MSME units are currently registered in the state and this number is set to increase significantly with these investment deals achieved by the Yogi Government.”
It is important to note that 6,212 MoUs have been signed for MSMEs whose investment amount is less than Rs 10 crore, it added.
In other categories, a total of 8,708 MoUs have been signed for investments up to Rs 50 crore contributing to a total investment of Rs 105,242 crore that will be made in the state.
Meanwhile, PM Modi during the launch of the summit said that the state has a strong and vibrant network of MSMEs along with traditional businesses equipped with the latest technology. He also asked businesses to take benefit of the central government’s PLI (Production Linked Incentive) scheme for food processing as the food sector is one of the richest and diverse sectors of the state, reported FEAspire.
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