Waxing eloquent on the micro, small and medium enterprises (MSME), Uttar Pradesh chief minister Yogi Adityanath today asserted that the state industries were giving tough competition to China-imported goods.
Addressing a MSME programme in Lucknow, Yogi noted that UP industrial products were knocking out the dominance of Chinese products from the state’s markets.
“When our domestically produced goods gain traction in the market, it is imperative that we nurture, incentivise, and provide them with a platform to flourish further,” he added.
The CM underlined that indigenous products were now seen predominantly in the domestic markets during Indian festive seasons.
Meanwhile, Yogi distributed MSME loans totaling more than Rs 30,800 crore to entrepreneurs, and inaugurated an online portal for allotment of industrial plots in the state.
In his address, he nudged MSMEs to give special emphasis on manufacturing products per market demand by mapping the markets, and enhancing product appeal through packaging.
He claimed UP is the only state in India where young entrepreneurs could avail of interest free loan of Rs 5 lakh. Of total 9.6 million MSMEs in UP, currently about 4 million are registered entities. The goal is to attain cent percent registration of MSMEs in the state.
The CM said the target of UP achieving a $trillion economy status in the next five years would require further accelerating the pace of economic growth.