Rajasthan bringing new MSME policy for industrial development

It will protect the sector, create more employment opportunities

Published - May 08, 2022 01:01 am IST - JAIPUR

The Congress government in Rajasthan is bringing a new policy on micro, small and medium enterprises (MSME) for fast industrial development and creation of more employment opportunities. The MSME sector will be protected with new incentives and facilities and steps taken for its modernisation.

State Industries Commissioner Mahendra Kumar Parakh said here on Friday that the important aspects of single window system, industrial clusters, smart industrial areas and easy availability of finance were being considered for the formulation of new policy. Mr. Parakh met the representatives of industrial organisations to get suggestions for drafting of the policy.

The previous MSME policy of 2015, which remained in force till 2019, had focused on a combination of both fiscal and non-fiscal interventions and facilitated the budding entrepreneurs. It had streamlined procedures, rules and regulations for ease of doing business and initiated steps for attracting investments.

Mr. Parakh said the MSMEs were the backbone of the State’s economy and the people in the State could get the maximum employment in the MSME sector. The grants were being given to entrepreneurs for setting up new enterprises as well as for renovation and modernisation of old units under the Chief Minister’s small industries incentive scheme, which stipulates 8% interest subsidy on loans up to ₹25 lakh.

The new policy will incorporate the suggestions made for infrastructure development for industries, training for capacity building, better marketing support, export promotion assistance and institution of awards for best entrepreneurs. The cluster development approach is also expected to ensure an inclusive and sustainable growth and competitiveness of MSMEs.

Representatives of the Confederation of Indian Industry (CII), Federation of Rajasthan Trade and Industry, PHD Chamber of Commerce and Industry, Bagru Industries Association and Vishwakarma Industries Association gave suggestions for the new policy at the meeting.

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