MSMEs must stay updated with market demands: UP CM Yogi Adityanath

Lucknow, May 6 (PTI) Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday emphasized the need for MSMEs in the state to continuously upgrade themselves in line with evolving market demands.

While reviewing the MSME department on Tuesday, the Chief Minister said that Uttar Pradesh hosts the largest MSME base in the country, and therefore, a solid strategy should be adopted to enhance the capabilities of youth engaged in this sector.

He directed that under the 'CM Yuva' scheme, proper and quality training must be provided to aspiring entrepreneurs before disbursing loans.

He issued key guidelines for the holistic development of the sector, expansion of entrepreneurship, job creation, and boosting exports.

According to an official statement, the CM highlighted that Micro, Small and Medium Enterprises (MSMEs) in the state not only drive local economic activity but also serve as anchor units for large industries. Currently, nearly 96 lakh MSME units are active in UP, contributing around 46 per cent to the state's total exports and providing direct and indirect employment to more than 1.65 crore people.

The Chief Minister stressed the need to strategically strengthen the MSME sector to realize the visions of 'Vocal for Local', 'Local to Global', and 'Brand UP'.

He also said that the time is ripe to promote Uttar Pradesh's traditional crafts, agriculture-based products, and innovation-driven enterprises on the global stage. He instructed that state schemes must focus on empowering youth, women, entrepreneurs, and the rural population, and that regular monitoring should be ensured.

During a review of self-employment schemes, officials informed the CM that over 3.21 lakh youths registered under the 'Mukhyamantri Yuva Udyami Vikas Abhiyan' (CM Yuva) in FY 2023-24, and over 56,000 applications have been received so far.

He directed that the annual target of sanctioning loans to one lakh beneficiaries be met in a timely manner and called for stronger coordination with banking institutions. He reiterated that thorough training is a prerequisite before granting loans to selected applicants.

Reviewing the 'One District One Product' (ODOP) scheme, Yogi Adityanath said the initiative has become the backbone of reviving traditional crafts and small-scale industries across the state. Since its launch in 2018, around Rs 635 crore in margin money has been distributed, and lakhs of beneficiaries have received support in training, marketing, design, and technical assistance. PTI KIS MR

Source: PTI