Empowering MSMEs: Exploring Invest Up Schemes for Growth and Success
"Unlocking the potential of MSMEs is pivotal for driving economic growth and fostering a thriving business landscape. With a focus on empowering these enterprises, the Invest Up schemes for MSME aim to fuel growth and success. Uttar Pradesh emerges as a prime investment destination, leveraging its inherent strengths and promising demographics. The state's progressive policies prioritize inclusive and sustainable development, offering a conducive business environment and responsive frameworks. In terms of sector overview, Uttar Pradesh boasts the largest MSME base in India, comprising 14.2% of the national total, with over 90 lakh registered and non-registered entities. The state's wide manufacturing spectrum spans engineering goods, carpets, leather goods, apparel, plastics, glassware, and more, contributing significantly to exports. Notably, 45% of the state's exports are attributed to MSME units, amounting to Rs 890 billion in FY17-18. Furthermore, MSMEs emerge as pivotal job creators in the state. The One District One Product (ODOP) Scheme exemplifies Uttar Pradesh's commitment to promoting local artisans and craftsmen, with 75 products identified and mapped to each district to bolster exports. Key policy supports including interest subsidy, EPF refund, land use conversion fee waiver, and electricity duty exemption further incentivize MSME growth, reinforcing Uttar Pradesh's position as a beacon for entrepreneurial success and innovation."
Schemes for MSME
Published:

Schemes for MSME

Published:

Creative Fields