- Nandini Bansal
There are nearly 6.3 crore Micro, Small, and Medium-Sized Enterprises (MSMEs) in India. MSMEs have long been regarded as the foundation of the nation’s economic growth. They actively contribute to increasing the country’s GDP rate by engaging in commerce on a national and international scale. Given the importance of MSMEs, Maharashtra has created many MSME programs for the nation’s new business owners.
One District, One Product (ODOP)
In 75 districts across Uttar Pradesh, this effort aims to build product-specific traditional manufacturing centres. This will strengthen traditional industries in a number of state districts. The Indian Prime Minister, Shri Narendra Modi, praised the ODOP initiative and called it “an extension of Make in India.” The programme offers financial assistance for the growth of specialized product manufacturing through marketing, skill development, the creation of shared facilities, and the growth of MSME businesses.
Due to the existence of a historical MSME industrial foundation, each of the state’s 75 districts has been identified as producing a good with a sizable manufacturing competitive advantage. Examples of well-established value chains include chikankari in Lucknow, silk textiles in Varanasi, and Aligarh’s locks and hardware industry. By providing a full help package for chosen items, including increased access to technology, markets, finance, and skills, the ODOP project seeks to reach every district in the state.
Uttar Pradesh Chief Minister Youth Self Employment Scheme
The National Informatics Center (NIC) UP State Center has been working on an online interface with end-to-end computerization to provide a single window framework to coordinate application, removal, and continuing checking. The Uttar Pradesh government offered this to increase the state’s educated but unemployed youth’s access to independent work opportunities. The platform was introduced on February 19, 2020, by Chaudhary Udaybhan Singh, the government of Uttar Pradesh’s honourable minister of state for MSME and export promotion.
Under the plan, banks are permitted to offer loans of up to Rs. 25 lakh for starting businesses and Rs. 10 lakh for the service sector. Additionally, the state government may contribute up to 25% of the required margin, or Rs. 6.25 lakh for the industry sector and Rs. 2.50 lakh for all other sectors.
Industrial Investment & Employment Promotion Policy of Uttar Pradesh 2017
The Industrial Investment & Employment Promotion Policy of Uttar Pradesh 2017 will attempt to leverage the state’s natural strengths while developing new ones and resolving its underlying inadequacies in light of the economic dynamics at play at the Indian, Asian, and global levels. With the help of the plan, present industries will be stabilized and improved, and new foreign and domestic industrial investments will be attracted and realized.
In order to create the position and stimulate the state’s long-term, all-encompassing, and balanced financial growth, the Industrial Investment and Employment Promotion Policy of Uttar Pradesh 2017 intends to make the express a seriously serious venture objective on a national and international scale.
Uttar Pradesh Startup Policy 2020
In order for students to acquire the principles of entrepreneurship from the beginning, the state government seeks to foster an entrepreneurial culture in schools. This initiative will help build future entrepreneurs in addition to raising the bar for student learning.
The plan aims to, among other things, support the establishment of E-Cells in colleges, Incubators at institutions of higher learning, and Centers of Excellence to foster innovative work in emerging breakthroughs.
Uttar Pradesh I.T. & Start-up Policy
The Uttar Pradesh I.T. and Start-up Policy intends to capitalize on the innovation sector’s full potential as a significant forerunner of progress, reaping the benefits of occupation creation, development, and overall financial growth. The State Government has brought about little change by creating an enabling policy framework and executing proactive actions to translate these policies on the ground. The Uttar Pradesh twin towns of Noida and Greater Noida have developed into important software and startup hubs.
The state of Uttar Pradesh is working admirably to promote innovation and entrepreneurship and to inspire young people to create jobs rather than look for them. To specifically offer finance to startups in Uttar Pradesh, an INR 1,000 crore Uttar Pradesh Start-up Fund is being established. To support the creation of a positive business climate via reforms to the ease of doing business, Udyog Bandhu has created a single-window clearance process.
