The Micro, Small and Medium Enterprises (MSME) Export Promotion Council has come out with a suggestion to draft a fresh policy for the MSME.
These suggestions were made by the Council chairman DS Rawat in Lucknow on Monday in the presence of chairman of UP unit, Hari Narayan Rajbhar.
The MSME Export Council chairman said that a roadmap for five years till 2025 has been prepared, targeting three crore units and direct jobs to 10 crore people and indirect jobs to 12 crore people.
“As the unemployment rate is increasing in the country, there is need to set up of a UP MSME Finance Development Corporation to support the sector so that it becomes competitive through skill development, upgrading of technology and establishing contacts globally,” he said.
While addressing media persons, Dr Rawat, lauded the MSME sector and said it can generate jobs. He also said that the new MSME Policy should address only micro and small units.
The Council has drawn a roadmap for the development of MSME sector in Uttar Pradesh.
Further, the council indicated two main problems which the MSME is facing are Flooding of Indian market with cheap imported goods from China and other countries and credit crunch.
The Council recommended to set up a MSME Finance Development Corporation in UP to finance the sector and to link it with the ambitious One District, One Product (ODOP) scheme.
Dr Rawat also informed that UP registered 100 per cent growth in micro, small and medium enterprises from 2015 to 2018 and their numbers rose from 44.03 lakh units to 88.89 lakh units.