Finance
Odisha Micro, Small and Medium Enterprises (MSME) Development Policy 2022, Odisha Food Processing Policy 2022, and Odisha Export Policy 2022 are being implemented as part of the state’s new industrial policy for the promotion of new industries in the Micro, Small and Medium Enterprises (MSME) sector, informed MSME Minister Pratap Keshari Deb at a press conference following a review of the MSME department’s achievements by Chief Minister Naveen Patnaik.
From the fiscal year 2017-18, 2507 MSME units have received 280 crore in cash incentives under this new industrial policy. Last year (FY 2022-23), MSMEs received financial incentives of Rs 50 crore through various initiatives.
The MSME export sector has shown substantial expansion. Exports increased from Rs 562.70 crore in fiscal year 2021-02 to Rs 1,32,405 crore in fiscal year 2021-22. Significant finance is being provided to micro, small, and medium firms in order for them to succeed. It has grown from 170.38 crores in fiscal year 1999-2000 to 62228.81 crores in fiscal year 2022-23.
Saswat Mishra, Principal Secretary of the MSME Department, spoke to the press about MSME Parks. He stated that MSME parks have been built in every district, primarily using state financing.
Between 2018-19 and 2022-23, DIC ran 1,600 entrepreneurship development workshops to encourage youth entrepreneurship. Through 1,600 Entrepreneurship Development Programmes, financial incentives have been granted to entrepreneurs and incubators recognized by ‘Startup Odisha’ under the Odisha Startup Policy 2016.
224 startups have received monthly allowance grants to far, 86 startups have received product development and marketing support grants, 17 startups have received need-based assistance, and 86 startups have received subsidized incubation. In the last two years, businesses and incubators have received a total of 18.63 crore in financial incentives.
Odisha’s MSME has been recognized as the best performer in the startup ranking and has been awarded the national MSME Award, according to Mishra.
Senior officers of the department were present at this press conference.
Source:OCN
