Odisha to Nurture Entrepreneurs at Grass Root Level

For nurturing the entrepreneurs in Odisha, the state government has vowed to conduct Entrepreneurship Development Programmes and Sensitisation Programmes at the block level this year. Earlier such event were organised at the district level.
 

"We have taken a decision to organise EDPs and Sensitization Programmes at all the 314 blocks this year. About 500 EDP of 12 days duration will be conducted at all the districts, blocks, municipalities and municipal corporations. Similarly, motivational and sensitisation programmes will also  be organised”, said LN Gupta, Additional Chief Secretary, MSME Department at a seminar on Socio-economic empowerment and MSME, organised under the Business Standard Smart Business banner in association with Odisha  Young Entrepreneurs Association (O Y E A) at Cuttack.
 

Gupta said, banks will also be asked to attend the event. Spelling out different policies for the financing of the MSMEs, he said that 475 bank branches have already been declared as MSME branches and soon it will reach 600. The state government has impressed upon the banks that one bank branch must give loan to one SC and ST entrepreneur and a one women entrepreneur. In the context of Cuttack, Gupta stressed on the development of filigree art and urged the entrepreneurs present at the meet for setting up a spice park.
 

Speaking on the occasion, Pranab Jyoti Nath, Director of Industries said, the government has decided to continue with both GeM and rate contract system simultaneously for procurement of MSME products. Of late, the implementation of GeM had drawn the ire of the state based MSME units. On the rising number of sick units in the state, Nath said “We are trying for revival of the sick units to revamp the confidence in the sector”.
 

MSMEs are the pillar of economic growth in many developed, and developing countries in the world. Often rightly termed as ‘the engine of growth’ for India, MSMEs have played a prominent role in the development of the country in terms of creating employment opportunities. MSME sector, which employs more than 50 million people and contributes 8 per cent to GDP, has helped in scaling up manufacturing capabilities, curtailing regional disparities and balancing distribution of wealth, said Biranchi Narayan Mishra, President of O Y E A.
 

Despite facing infrastructural problems, lack of proper market linkages, and challenges in terms of flow of institutional credit, the sector has seen tremendous growth in the country. The advantage of this sector is, it requires less investment, employs large number of people, thus reducing the employment and underemployment problems. Moreover, this sector has survived many threats and is still competitive in both domestic and international markets, Mishra added.
 

Ratnakar Rout, Managing Director, Odisha Small Industries Corporation Ltd. and Prasanna Kumar Jena, Managing Director, Odisha State Finance Corporation also spoke on the occasion.