MSMEs Take The Lead in Uttarakhand Industrial Development | SupportBiz

News

MSMEs Take The Lead in Uttarakhand Industrial Development

 
Raj Narayan's picture
Tags: Uttarakhand
MSMEs Take The Lead in Uttarakhand Industrial Development
While investments doubled In 2009-10 things started gowing awry the next year onwards due to heavy rains that caused MSME growth to stutter due to sluggish investments.

New Delhi, January 7: The MSME Minister for Uttarakhand Harish Durgapal has suggested that only the small scale industry in the state could cut growing unemployment, especially in the areas that got devastated in the flash floods last June. 

Published media reports quoted the minister as saying that the only way to stop migration of local talent in the hills was to focus on MSME development and creation of new jobs in the region which is also witnessing added focus on infrastructure development. 

A report published in the Business Standard (Read the Full Report) said in the last five years, the state saw investments of nearly Rs.600 crore into more than 4,800 MSME units as part of the special integrated promotion policy of 2008 for the hill and remote areas of Uttarakhand.

While investments doubled In 2009-10 things started gowing awry the next year onwards due to heavy rains that caused MSME growth to stutter due to sluggish investments. However, post the June 2013 deluge, the government feared the worst but Durgapal said MSMEs actually did not get affected that much. 

Until November 2013, investments had already reached Rs 62.77 crore through 763 new units, providing employment opportunities to nearly 2,690 people. These are the latest figures released by the state's MSME department to show that there wasn't much damage.