Lucknow (Uttar Pradesh) [India], Uttar Pradesh Chief Minister Yogi Adityanath said on Thursday that the state has improved its ranking from the sixth largest economy in 2017 to the second largest in the country in the last seven years.
CM Yogi addressed an event at Lok Bhavan auditorium on International MSME Day on Thursday.
"Uttar Pradesh is home to over 9 million MSMEs. In 2017, the state had the sixth largest economy in India, but today it has become the second largest economy in the country. Economic growth has made UP a leader in employment. MSME entrepreneurs have been crucial in advancing the state's economy," he said, while adding that UP is fortunate to have a long tradition of local artisans and craftsmen. "However, the lack of Adequate incentives has led to a decline in the micro, small and medium enterprise sector in recent decades. In 2017, MSME entrepreneurs were facing frustration and disappointment, and the State was lagging behind in economic growth. and employment". he added.
Acknowledging that MSMEs are the second largest sector in employment generation after agriculture, CM Yogi mentioned that continuous efforts since 2017 have revitalized the MSME units. Today, this sector forms the backbone of Uttar Pradesh's development, he highlighted.
CM Yogi stated, "Uttar Pradesh has successfully showcased its MSME products at the International Fair." He announced that entrepreneurs will now have access to loans exceeding Rs 20,000 crore. Furthermore, efforts have been made to revive the distressed units under the RAMP scheme and important steps have been taken to lift the businesses to new heights.
With over 9 million MSME units in the state, substantial progress has been made in branding, marketing and promotion. He also mentioned that the newly inaugurated Rani Laxmibai Pledge Park in Jhansi is the 11th Pledge Park in the state. These parks are very beneficial for private sector entrepreneurs.
The Chief Minister stated, "Uttar Pradesh has created a more favorable investment environment, with strengthened rule of law and security system, which are crucial for industries." He highlighted the importance of MSMEs in this industrial environment. He also highlighted the ongoing development of a defense corridor in the state, aimed at making the country self-reliant in defense production. An investment of Rs 24,000 crore has already been made, he informed.
Notably, the MSME policy was introduced in the state during the COVID period, with the Chief Minister outlining its benefits, including the successful advancement of the flat factory initiative.
He also announced that, like last year, the International Fair will be held in September. Last year, the fair attracted 70,000 buyers, a number that is expected to increase this year. The fair provides an excellent opportunity to effectively market the state's products. CM Yogi said that the state government offers Chief Minister Udyam Bima to MSME entrepreneurs, with over 2.4 million registered entrepreneurs. This scheme provides up to Rs 5 lakh in disaster benefits. Also, under the government of Chief Minister Yuva Udyam Vikas Abhiyan, steps have been taken to offer interest-free loans of up to Rs 5 lakh, with an aim to support 1 million micro-entrepreneurs over the next decade. Extending his best wishes to all entrepreneurs on the International MSME Day, the CM assured that the government supports its entrepreneurs at all levels.
On this occasion, CM Yogi initiated the disbursement of Rs 20,000 crore in loans by banks to MSME units. He also distributed loans to beneficiaries of PMEGP, MYSY, ODOP and Mudra Yojana and provided toolkits to beneficiaries of Vishwakarma Shram Samman Yojana, ODOP and KVIB. Additionally, he inaugurated the Pledge Park in Jhansi and launched the RAMP (Raising and Accelerating MSME Performance) scheme.
On this occasion, state government MSME Minister Rakesh Sachan, IIDC Manoj Kumar, Principal Secretary Alok Kumar and Sameer Ranjan Panda along with other dignitaries, artisans, bankers, businessmen and experts from across the state were present. .On International MSME Day, the Chief Minister distributed toolkits to Vishwakarma beneficiaries Shram Samman, Gurdeep Singh of Sitapur, Akanksha Gautam of Lucknow, Ruby Devi of Lucknow and Madhuri Sharma of Gorakhpur. Apart from this, he congratulated Ranjit of Lucknow, Sanjay Kumar of Barabanki and Kallu Kumhar of Lucknow.
Apart from this, loans were provided to Pushp Kumar Singh, Sadhna Singh, Alok Kumar Gupta, Amit Singh, Devendra Kumar Mishra, Ramesh Narayan Dubey and Mohd. Adil Beg for several companies.
CM Yogi addressed an event at Lok Bhavan auditorium on International MSME Day on Thursday.
"Uttar Pradesh is home to over 9 million MSMEs. In 2017, the state had the sixth largest economy in India, but today it has become the second largest economy in the country. Economic growth has made UP a leader in employment. MSME entrepreneurs have been crucial in advancing the state's economy," he said, while adding that UP is fortunate to have a long tradition of local artisans and craftsmen. "However, the lack of Adequate incentives has led to a decline in the micro, small and medium enterprise sector in recent decades. In 2017, MSME entrepreneurs were facing frustration and disappointment, and the State was lagging behind in economic growth. and employment". he added.
Acknowledging that MSMEs are the second largest sector in employment generation after agriculture, CM Yogi mentioned that continuous efforts since 2017 have revitalized the MSME units. Today, this sector forms the backbone of Uttar Pradesh's development, he highlighted.
CM Yogi stated, "Uttar Pradesh has successfully showcased its MSME products at the International Fair." He announced that entrepreneurs will now have access to loans exceeding Rs 20,000 crore. Furthermore, efforts have been made to revive the distressed units under the RAMP scheme and important steps have been taken to lift the businesses to new heights.
With over 9 million MSME units in the state, substantial progress has been made in branding, marketing and promotion. He also mentioned that the newly inaugurated Rani Laxmibai Pledge Park in Jhansi is the 11th Pledge Park in the state. These parks are very beneficial for private sector entrepreneurs.
The Chief Minister stated, "Uttar Pradesh has created a more favorable investment environment, with strengthened rule of law and security system, which are crucial for industries." He highlighted the importance of MSMEs in this industrial environment. He also highlighted the ongoing development of a defense corridor in the state, aimed at making the country self-reliant in defense production. An investment of Rs 24,000 crore has already been made, he informed.
Notably, the MSME policy was introduced in the state during the COVID period, with the Chief Minister outlining its benefits, including the successful advancement of the flat factory initiative.
He also announced that, like last year, the International Fair will be held in September. Last year, the fair attracted 70,000 buyers, a number that is expected to increase this year. The fair provides an excellent opportunity to effectively market the state's products. CM Yogi said that the state government offers Chief Minister Udyam Bima to MSME entrepreneurs, with over 2.4 million registered entrepreneurs. This scheme provides up to Rs 5 lakh in disaster benefits. Also, under the government of Chief Minister Yuva Udyam Vikas Abhiyan, steps have been taken to offer interest-free loans of up to Rs 5 lakh, with an aim to support 1 million micro-entrepreneurs over the next decade. Extending his best wishes to all entrepreneurs on the International MSME Day, the CM assured that the government supports its entrepreneurs at all levels.
On this occasion, CM Yogi initiated the disbursement of Rs 20,000 crore in loans by banks to MSME units. He also distributed loans to beneficiaries of PMEGP, MYSY, ODOP and Mudra Yojana and provided toolkits to beneficiaries of Vishwakarma Shram Samman Yojana, ODOP and KVIB. Additionally, he inaugurated the Pledge Park in Jhansi and launched the RAMP (Raising and Accelerating MSME Performance) scheme.
On this occasion, state government MSME Minister Rakesh Sachan, IIDC Manoj Kumar, Principal Secretary Alok Kumar and Sameer Ranjan Panda along with other dignitaries, artisans, bankers, businessmen and experts from across the state were present. .On International MSME Day, the Chief Minister distributed toolkits to Vishwakarma beneficiaries Shram Samman, Gurdeep Singh of Sitapur, Akanksha Gautam of Lucknow, Ruby Devi of Lucknow and Madhuri Sharma of Gorakhpur. Apart from this, he congratulated Ranjit of Lucknow, Sanjay Kumar of Barabanki and Kallu Kumhar of Lucknow.
Apart from this, loans were provided to Pushp Kumar Singh, Sadhna Singh, Alok Kumar Gupta, Amit Singh, Devendra Kumar Mishra, Ramesh Narayan Dubey and Mohd. Adil Beg for several companies.
