In 4.5 years, UP added 7.5M MSMEs, creating 20M jobs: UP's MSME Minister
UP MSME Minister Sidharth Nath Singh also said that individuals in the state no longer look for government jobs and are happy to explore entrepreneurship, thanks to the increase in the ease of doing business.
In the last four and a half years, Uttar Pradesh has added 7.5 million micro, small and medium enterprises (MSMEs) in the state, creating about 20 million jobs according to Sidharth Nath Singh, Minister of MSME, Investment and Export, Textile, Khadi & Gram Udyog, Government of Uttar Pradesh.
While delivering a speech at an event hosted by and , the minister said that several initiatives taken by the government such as "One District One Product" have been able to channelise MSMEs into the mainstream economic activity.
"In UP, anyone who applies online to set up an MSME will get the licence or NOC in 72 hours to start manufacturing activities," he said. He also said that individuals in the state no longer look for government jobs and are happy to explore entrepreneurship, thanks to the increase in the ease of doing business.
He also congratulated the 2,500 MSMEs that graduated under the Walmart Vriddhi Supplier Development Programme (Walmart Vriddhi). Singh encouraged the graduates to take advantage of programmes such as Walmart Vriddhi to enhance their business capabilities, become self-reliant, and further strengthen India's position as an export hub. He said:
"Empowering small businesses to stretch their wings is a key priority for the Government. To promote exports further, we are setting up overseas trade promotion and facilitation centres in all 75 districts of the state of Uttar Pradesh."
Walmart Vriddhi was launched in 2019 to empower 50,000 MSMEs (over a span of five years) in India by offering tailored learning content, solutions, and experiences. The initiatives undertaken by Walmart over the past few months were aimed at helping MSMEs adapt and equip their businesses to emerge stronger from the pandemic.
MSMEs form the backbone of the Indian economy. They contribute about 48 percent to exports and 30 percent to the country's GDP. The years 2020 and 2021 presented several challenges to this sector.
COVID-19, which brought the entire world to a standstill, hampered its operations significantly. The pandemic-led lockdowns and the disruption of global supply chains further added to the woes of the sector.
Edited by Kanishk Singh