Micro, Small & Medium enterprises (MSMEs) are the pillars of economic growth in many developed, and developing countries in the world.
Termed as “the engine of growth” for India, MSME has played a prominent role in the development of the country in terms of creating employment opportunities and contribution to country's Gross Domestic Product (GDP).
"The development of a country and state depends on the industrialization. And the industrialization is not possible through heavy industries. MSMEs are the solution for myriad of problems of the state and the country", said PrafullaSamal , minister of MSME department at a seminar of Role of SMEs in the State Economy organised by Business Standard Smart Business.
"Odisha's budget provision for 2017-18 for administrative expenditure was Rs 69.59 crore and we have achieved 95 per cent. We clocked about 98 per cent of the programme expenditure allocation of Rs 96.80 crore. It shows that the department is effectively working for the growth of MSMEs in the state", he added.
There are no provision for revival of sick units under the Central government schemes. Though an empowerment committee has been formed, it has failed to produce desired results, he said.
Odisha has identified about 25636 sick units and out of it 20803 are non-viable.Similarly, 2368 are identified potential units and 340 of them are under nursing.The MSMEs need to be funded adequately by the financial institutions.
He also stressed on holding of SamadhanSivirs to resolve the grievances of MSMEs.
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In the Start Up segment, Odisha will be a unique state in the country where other states will come, see and observe, speakers at the event felt.
Odisha government has promulgated MSME Development Policy in 2016 to give an impetus to the sector.
LN Gupta, additional chief secretary, MSME department, projected that there must be two million MSMEs in the state.
In the last four years, about 0.2 million units have been set up in the state providing jobs to more the 0.6 million persons with an investment of Rs 10000 crore. MSMEs in Odisha is an encompassing sector, he added.
Odisha has recognized about 250 start ups which are operating in diverse sectors from traditional and conventional activities to non conventional ones.
Gupta said, about 500 offline entrepreneurship development programmes were organized last year and the department plans to hold similar number of programmes this year also.
The state is also planning to start second leg of the startup Odishayatra in October.
In the first phase about 50 institutions were covered in 15 of the total 30 districts in the state and plans are afoot to cover the balance in October to promote grass root level innovation.
Ramesh Mohapatra , president of Utkal Chamber of Commerce and Industries urged the minister present at the occasion to take up the matter of changing the definition of MSMEs with Government of India.