Uttar Pradesh Accelerates MSME Growth with New Initiatives

Uttar Pradesh's MSME sector is thriving with over 96 lakh units, generating employment for millions, according to State Minister for Micro, Small and Medium Enterprises, Rakesh Sachan. Addressing an International MSME event, Sachan emphasized the rapid growth of MSMEs across the state, fueled by government initiatives.

Sachan credited the surge in entrepreneurship to improved infrastructure, citing enhanced roads and connectivity as key factors. He noted that around 4 lakh individuals had received toolkits, promoting small industries and creating job opportunities statewide. Efforts to propel MSME growth include affordable land banks and up to Rs 14 crore in financial assistance.

In Kanpur's Aliganj, land banks are being made accessible under MSME development schemes. Sachan also announced new initiatives like the CM Yuva Yojana, offering interest-free loans to young entrepreneurs, and the Yuva Adda initiative to foster large-scale employment opportunities. These efforts underscore the state's commitment to economic development.

The CM Yuva Yojana aims to connect individuals with employment, with the Chief Minister inaugurating the Yuva Adda initiative. This program targets widespread job creation across every district. Additional measures include a new mobile application and the upcoming PM MITRA Park in Hardoi, projected to generate over 1 lakh jobs, benefiting youth in various districts.

The PM MITRA Park, set to significantly boost employment, will benefit youth in Gautam Buddha Nagar, Hardoi, and Lucknow. Small-scale producers are also provided a platform for growth, with the Chief Minister distributing cheques to beneficiaries as part of empowerment initiatives. These comprehensive efforts aim to sustain the MSME sector's momentum and facilitate economic prosperity. (ANI)

(With inputs from agencies.)