UP's push for MSMEs likely to challenge Chinese consumer goods

The Micro, Small and Medium Enterprises (MSMEs) roadmap prepared by the Uttar Pradesh government will likely pose a challenge to Chinese consumer products in the future, as the state has planned to generate 90 lakh new jobs in existing MSME units, attracting investors from across the world.

The state government has completed all the preparations under the leadership of Chief Minister Yogi Adityanath. So far, the state was facing an unprecedented decline in capital due to the COVID-19 crisis, but recently the government gave a major boost to the MSME sector by distributing loans worth Rs 2002 crore to around 57,000 entrepreneurs in one go through a loan fair.

Navneet Sehgal, Principal Secretary, MSME Department, said: " A similar online mega loan distribution fair will be organized in the first week of June, July and August. Prior to this, loans to entrepreneurs through Prime Minister's Employment Generation Programme (PMEGP), Mukhyamantri Yuva Swarojgar Yojana, One District One Product (ODOP), Pradhan Mantri Mudra Yojana (PMMY), Stand-Up-India Scheme and Startup Scheme have been given in the last financial year. The loans worth Rs 67,000 crore were disbursed to MSME units through these schemes."

Recently, the Chief Minister made a 'Swadeshi' pitch for industrial growth and creation of jobs for the migrants.

He said, "Keeping the theme of 'Swadeshi' in mind, we have to promote the MSME sector, which manufactures affordable products and has the potential to create jobs on a mass scale for our migrant workers."

Uttar Pradesh is second in the country in terms of the number of MSME units. About 14 per cent of the total such units in the country are in this state. During these five years, 39.25 lakh people have got employment from these units. MSME contributed about 80 per cent (Rs 114057 crore) to the exports from the state in the year 2018-19.

Ever since Yogi Adityanath became the Chief Minister, several steps have been taken to improve the quality of their products through better technology and to make them competitive in the market.

Sehgal said, "UP has a very rich tradition of cottage industries. This is the reason why products from here are recognized in many places. This is the planning of Chief Minister Yogi Adityanath. Every effort is being made for the betterment of this area."