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MSME breaks all records for investment & employment in Uttar Pradesh

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With the new investment-friendly policies in place, Uttar Pradesh has broken all records and came first in the terms of investment and employment in the MSME sector.

The medium, small and micro enterprise (MSME) units have broken all records in providing investment and employment in the state. In the last four and a half years, more than Rs 5 lakh crore have been invested in the state and three crore people have got employment.

The various steps and policies of the government have been significant in the growth of the sector. In the current financial year till November 10, the government procurement from MSMEs through the GeM portal was 69.6 per cent i.e. 3855 crores. The total purchase in four and a half years through GeM had been more than Rs 15,000 crore.

The UP government also made a record in giving loans to MSME units. The loans to the tune of Rs 2,70,611 crore were disbursed by Chief Minister Yogi Adityanath-led government in the last four and a half years. Talking about this, Dr Navneet Sehgal, Additional Chief Secretary, MSME said that the entrepreneurs had also invested equal or more money against the loans given by the banks. Three crore people have got employment opportunities directly and indirectly in these industries.

Also Read: Standing Finance Committee approves MSME Champions Scheme worth Rs 273 crore

In coordination with the government, 91,83,833 units have got loans under various schemes. Loans worth Rs 41,193 crore were given to 7,87,572 units in the financial year 2017-18, Rs 47,764 crore to 10,24,265 entrepreneurs in the 2018-19 fiscal and Rs 62,831 crore to 17,45,472 entrepreneurs in 2019-20. In the financial year 2020-21, as many as 34,80,596 entrepreneurs have been given loans worth Rs 63,038 crore. While in the financial year 2021-22 till November 30, a total loan of Rs 28,583 crore has been given to 21,45,928 entrepreneurs.

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