MSME's prospects bright in State: Chief Minister

  Jaipur, 08 October. Chief Minister Mr Ashok Gehlot said that the stronger the MSME sector, the faster the economic progress will be in the State. Today, MSMEs contribute 30 percent to the country's GDP. There are over 6 lakh MSME industries in Rajasthan and over 1.35 lakh exporters. This sector provides for maximum employment opportunities. Keeping this in mind, the state government has taken several policy decisions to promote MSMEs. He said that the future of MSMEs in the State is bright.

            Mr Gehlot was addressing the MSME Conclave and closing ceremony under Invest Rajasthan Summit-2022 organized at JECC, Sitapura on Saturday. He said in the 'Thinking Big, Thinking Smart' session of the MSME Conclave that the summit has created a new investment climate in the state. Investors appreciating the policies of the state and terming the state the 'best destination' for investment is a sign of success. He said that 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.

            The Chief Minister said that the State Government is committed to turn every MoU and project into reality. He assured the investors that every officer and employee of the state government will ensure timely fulfillment of the needs of the investors. Also, we will try our best to market the products of investors and help them gain international recognition.

           Mr Gehlot said that entrepreneurs invest only where there is a good atmosphere. We have strengthened the road network. Policy decisions for industrial development have created such an environment that investors will not face problems. The increase in per capita income and improvement in Happiness Index shows the prosperity of the state.

Mr Gehlot said that the first Prime Minister of the country, Pt. Jawaharlal Nehru, laid the foundation of industrial development in the country. Since then the MSME sector received a major boost. On the basis of the National Planning Commission, policies and acts were made in the country, which made country's all-round development possible. He said the present dispensation understands the importance of MSMEs in the state, their needs and their difficulties. The MSME Act was enacted in 2019, which proved to be a boon. In the budget 2022-23, the exemption given to MSMEs under this act from approval, permission, inspection for 3 years has been increased to 5 years. He said that important decisions were taken to provide relief from the economic loss caused during Covid-19. Many exemptions were provided by introducing the Amnesty scheme.

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

            Mr Gehlot said that the State Government is in the forefront in promoting handicrafts. The first handicrafts policy was launched in September itself. This will prove to be important for better marketing of the handicraft products, saving the vanishing traditional handicrafts and redesigning the products to make them export worthy.

            The Chief Minister said that 20 percent of the country's oil is produced in Rajasthan. There is possibility of gas exploration too. A petrochemical complex is being developed in an area of ​​383 sqkm near the refinery at Pachpadra. We have also sent a proposal to the central government. More than 150 MSMEs and other industries will be established here and youth will get employment. In such a situation, Pachpadra will become a major centre of investment.

            Industries and Commerce Minister Smt. Shakuntala Rawat said that the MSME sector is an integral part of the state's economy. It also plays an important role in social development. The state's MSME policy is encouraging enterprises in all sectors. The foundation for all-round development of the state has been laid in this summit.

            Rajeev Arora, Chairman, Rajasthan Small Industries Corporation said that the role of MSME sector in industrialization is vital. About 98 percent of the industries in Rajasthan is in this sector and lakhs of people are getting employment. After the success of the summit, we will now work on 'Thinking Big - Thinking Smart' and work in such a way that the investments take off soon.

            Chief Secretary Smt. Usha Sharma said that MMME sector is the backbone of industrial development. It is playing an important role in the development of the state. There are 6 lakh MSME units in the state, which employs over 37 lakh people. Exports of MSME units stood at Rs 72 thousand crore in the last financial year. Recently, MSME Policy-2022 was released to promote micro, small and medium industries. Facilitation counters have also been opened for MSME industries.

            Industries and Commerce Commissioner Shri Mahendra Parakh said that in the year 2022, attractive financial benefits are being given to MSMEs by including them in thrust sectors. Under Rajasthan Investment Promotion Schemes, a grant of Rs.912.27 crore has been given so far.

            Entrepreneurs expressed their views on the topic 'Growth Strategy: Thinking Big Thinking Smart' at the MSME Conclave. They appreciated the efforts of the State Government for the development of MSMEs in the State and spoke about its success. The session was moderated by Shri. Kunal Sood, National Sector Leader, Grant Thornton Bharat LLP. He discussed the future prospects in this sector with the incorporation of technology in the growth of MSMEs. He said that due to our diverse domestic market, we remained largely unaffected by the global economic slowdown.

            Abhinav Banthia, Managing Director, Manu Yantralay said that due to the positive environment for investment in Rajasthan, companies from the country and abroad are attracted to start their business here. Rohit Sabu, Chairman and CEO, National Engineering Industries Limited said that for the success of any enterprise, one has to befriend new technology. He said that long term planning, digital marketing and global thinking is the key to the development of MSMEs.

            SIDBI Chairman and Managing Director Shri S. Raman discussed on 'Finance to Scale Up Businesses'. He said that due to the digital revolution, banks are disbursing loans in just 48 hours. This has given unprecedented momentum to MSMEs and new startups. Quality Council of India's Shri Adil Jainulbhai gave his views on Zero Effect Zero Defect. He said that he expects the GDP of Rajasthan to be one trillion in the near future and this is possible only with the development of MSMEs. Mr. M. Ponnuswamy, President, Pon Pure Chemicals said that you can take your business to any height even by starting your own venture on a small scale.