Haryana focused on MSMEs in it's Industrial Policy

From simplification of procedures to creating an inexpensive land bank with plug-and-play facilities on a lease basis, the Haryana government is set to announce a new industrial policy that will focus on development of the state's 200,000-odd micro, small and medium enterprises (MSMEs), besides promoting start-ups.

According to the draft of the new policy, on which feedback has been invited, the state government will ensure adequate plots for MSMEs, implement a cluster development approach, create a Rs 1,000-crore fund under the CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) scheme of the central government for collateral-free loans, provide technology support and offer fiscal incentives.

The institutional support system will comprise land and flatted factory sheds, incubation centres to enhance entrepreneurship development, cluster development, market development assistance, technology upgradation support, a design clinic scheme and quality testing centres.

Incubation centres to be developed by the state government in collaboration with universities and state development agencies will provide new entrepreneurs and start-ups with technology support and some monetary assistance. The financial support for incubation centres will be Rs 7 million and this will supplement the assistance provided by the central government.

More than 20 clusters have been identified for development across the state, involving more than 6,000 MSMEs. Diagnostic study reports have been prepared for 18 clusters and detailed project reports have been completed for 11 clusters, out of which five have already obtained the Union MSME ministry's final sanction for funding support.