Rise of MSMEs in Madhya Pradesh
Madhya Pradesh is a fastest growing state in the nation where a visible change can be witnessed in every sector be it agriculture, industry, export or GDP. In the year 2012, state has registered the highest growth in agriculture with 18% rise and in its Global Investors Summit it has successfully got the investment of 4,00,000+ crore & 890 MOUs were signed. This number itself says a lot. In GIS-2012, one day was completely dedicated to Micro Small & Medium Enterprises (MSMEs) of State and many beneficial deals were finalized. Compound Annual Growth Rate (CAGR) in 2004-05 to 2011-12 of Madhya Pradesh is 8.21% which is appreciable.
Under the leadership of Chief Minister Shivraj Singh Chouhan & Minister of Commerce & Industry Kailash Vijayvargiya, state is tremendously flourishing specially in Industrial Sector. Recently Honorable Kailash Vijayvargiya inaugurated Associated Chambers of Commerce (ASSOCHAM) 8th SMEs Sammelan on 5th June 2013 in which many new policies were discussed to improve the condition of MSMEs. Commerce & Industry Minister of MP said "Primarily we are focusing on food processing, warehousing & skill development. Our focus mainly covers rural areas where real potential lies".
Soon Policies will be structured to evolve comprising various significant aspects like working capital management, marketing, technological upgradation, inter-linkage amid MSMEs, skill development, facilitating micro credit, cluster development, financial inclusion and revival of sick industrial units in wake of rising land prices.
In a study it was pointed out that MSME sector accounts for almost 45% of India's total manufacturing output, about 40% of India's total exports, thereby employing over 70 million individuals in over 30 million units spread across the nation. Thus, MSMEs cannot be neglected and in MP they are specially taken care by the Commerce & Industry Minister of the state.
There is scope to develop the entrepreneurial culture through specialised training, technical assistance and general consultancy services through professional institutions. MSMEs are presently seeking attention of the govt. on various growth aspects and MP government is all set to provide any kind of help to MSMEs for statesтАЩ economy & industrial development.
Madhya Pradesh is the second largest state in the country by area, has population over 75 million and is geographically situated as a heart of nation and thus, it has land, man power & excellent transportation facility. These all factors are really beneficial for MSMEs to grow in MP. Climate, Natural Resources & flexible government policies of MP are like cherry on the cake.
Kailash Vijayvargiya has however assured that his government would focus more on industry needs. Periodical reviews will be done to ensure effective financial arrangements for the MSMEs. With a view to supporting MSME sector, MP government would arrange additional funds for the sector for market linkage & exposure.
MSMEs are the power of any state and Madhya Pradesh is all set to make MSMEs as its strength!
