Rajasthan has over 6 lakh MSMEs employing more than 37 lakh people: state govt | The Financial Express

Rajasthan has over 6 lakh MSMEs employing more than 37 lakh people: state govt

Ease of doing business for MSMEs: “Stronger the MSME sector, the faster the economic progress will be in the State,” said Ashok Gehlot at Invest Rajasthan Summit 2022. 

Rajasthan has over 6 lakh MSMEs employing more than 37 lakh people: state govt
The chief minister in his address said investors have appreciated the policies of the state and termed the state the 'best destination' for investment which is a sign of success. (Image: DIPR Rajasthan)

Ease of doing business for MSMEs: Addressing the state’s investment promotion event Invest Rajasthan Summit 2022, Chief Minister Ashok Gehlot said the state is home to more than 6 lakh MSMEs and over 1.35 lakh exporters. Gehlot said the MSME sector provides maximum employment opportunities and keeping this in mind, the state government has taken several policy decisions to promote MSMEs. “Stronger the MSME sector, the faster the economic progress will be in the State,” said Gehlot on Saturday. 

Also, State’s Chief Secretary Usha Sharma at the event noted that the 6 lakh MSME units employ over 37 lakh people while exports of MSME units stood at Rs 72,000 crore in the last financial year. Industries and Commerce Commissioner Mahendra Parakh said that under Rajasthan Investment Promotion Schemes, a grant of Rs 912.27 crore has been given so far to enterprises.

The chief minister in his address said investors have appreciated the policies of the state and termed the state the ‘best destination’ for investment which is a sign of success. “We are developing such an environment in the state that industries can be established in every sector and employment can increase. The state government stands by the investors at all times and in all circumstances.”

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Noting the initiatives undertaken by the state to promote MSMEs, Gehlot said the state’s MSME Act was enacted in 2019 which proved to be a boon while the 2022-23 budget enhanced exemption to MSMEs under this act from approval, permission, and inspection from three years to five years. 

The state had last month launched its MSME Policy 2022 that aimed at setting up 20,000 new MSME units with a cumulative investment of Rs 10,000 crores and employment generation for 1 lakh people. The policy also proposed to facilitate 9,000 MSMEs to obtain Zero Defect Zero Effect (ZED) certification. 

Gehlot said that the new MSME policy aims at increasing the contribution of MSMEs to the state GDP and exports. “Financial and technical assistance is being provided to MSME industries, which will increase production and we will help the state move further in the direction of exports,” he added. Moreover, provision has also been made in the MSME policy for assistance in research and development, facility of the e-market, cluster development, protection scheme and risk coverage.

Also read: ECLGS: Finance ministry’s nearly 4x jump in credit support limit to airlines irks MSMEs?

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First published on: 09-10-2022 at 13:00 IST