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Uttar Pradesh Registers 346000 New MSMEs in Last Three Years

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Uttar Pradesh has set up of more than 346,000 new Micro, Small and Medium Enterprises (MSME) in the last three years, said Industrial Development Minister Satish Mahana.

Replying to a question in the UP Legislative Assembly, Mahana said, 346,995 new units had come up in the state MSME sector since 2017.”

He also informed that of the 1,045 memorandum of understanding (MoU) signed with the public and private sector companies at the UP Investors Summit in February 2018, and the production has already started in 90 projects.

Meanwhile, the MSMEs accounted for 80 per cent of UP’s exports worth Rs 1.14 trillion in 2018-19. The MSMEs generate nearly 60 per cent of the industrial output and rank second after agriculture in the highest employment generation in the state.

The state has implemented one district, once product (ODOP) scheme to boost the MSME sector by promoting the indigenous traditional industries and handicrafts of the state.

In November, last year, UP Chief Minister Yogi Adityanath had also suggested that the Commercial Tax Department should conduct an awareness drive to help traders in filing returns and applying for refunds.

The UP CM had suggested that the awareness drive for traders could be carried out by taking help of the Traders Welfare Board.

“Tell them that it is the government’s right to receive and it is their duty to hand over the tax money that they are taking from customers. The money is utilised in development work,” he had said.

“We have to end this fear through our behaviour and also simplify the process of filing returns and refunds. For this, provide training to traders,” he added.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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