Looking to fortify the micro, small and medium enterprises (MSME) as the growth engine of Uttar Pradesh, the Confederation of Indian Industry (CII) today organised a conference in the state capital.
The event focused on the indispensable role of MSMEs in driving the state’s growth and making it a $trillion economy by 2027 or thereabouts.
In his address, UP MSME secretary Pranjal Yadav said the state government is committed to fetching investment in the state and offering basket of incentives to industry.
“MSMEs are vital for any state as they are the potential employment providers and contribute to more than half of the nation’s export growth,” he said, while giving a lowdown on the various government schemes and incentives to strengthen the sector.
Yadav underlined the state’s flagship one district one product (ODOP) scheme has immensely benefitted the handicraft traders, and is also enhancing the innovative skills of artisans.
Yawer Ali Shah, Convenor, CII MSME Panel & Co-Founder & CEO AMA Herbal Laboratories, noted ODOP has revolutionised the state’s MSME sector.
“It has not only increased the exports manifolds but fetched global recognition to UP’s art and craft,” he said while stressing the need for more incubation centres to groom entrepreneurs for the changing business ecosystem in terms of technology, innovation and use of artificial intelligence (AI).
Smita Agarwal, Chairperson, CII UP State Council & Director & CFO, PTC Industries, said the MSME is the backbone of our economy and plays a pivotal role in driving innovation, employment and economic growth.
She maintained the state’s unwavering commitment to the sector is evident from initiatives such as single-window clearances, ease of doing business reforms and infrastructure development projects tailored to the specific needs of MSMEs.