Press Release
The MSME policy implemented in Rajasthan in 2022 aims to facilitate the establishment of 20,000 new MSME units, with a collective investment of Rs 10,000 crores, and generating employment opportunities for approximately 1 lakh individuals. Furthermore, the Rajasthan Investment Promotion Scheme 2022 offers a range of incentives, including asset creation, interest subsidy, and capital subsidy, which serve to foster the growth of MSMEs in the state. Additionally, the scheme encompasses several exemptions such as stamp duty, electricity charges, and Mandi Tax. As a result of these proactive policies and incentives, the MSME sector in Rajasthan has experienced a notable surge in growth and development. This was stated by Managing Director, Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO), Mr. Sudhir Kumar Sharma at the 6th Rajasthan MSME Summit organized FICCI Rajasthan State Council in Jaipur today on the occasion of International MSME Day. The summit was themed on ‘Unlocking the Growth Potential for MSMEs in Rajasthan’.
Futher highlighting the initiatives of the Government,the MD added that the in the last 5 years 67 new industrial areas have been developed with an annual investment of INR 500 crores. New industrial areas are also being developed. A MSME Co-working space, Plug and Play center as well as Fintech park are also coming up.
President, Udaipur Chamber of Commerce and Industry & Chairman, Secure Meters Ltd, Mr. Sanjaya Singhal shared his insights on the growth of micro and small industries. He said that generation change as well as exposure and mentorship are the two major impediments in the growth of entrepreneurs. There is a need to clear the entreprenurs’ mind of mental roadblocks. There is a need to nurture existing enterprises and infrastructure as well as reduce compliance burden, he added.
Managing Director, Resurgent India Limited, Mr. Jyoti Prakash Gadia gave a detailed presentation on enabling the transition of micro and small enterprises to medium and large enterprises. He said that while Rajasthan ranks 3rd in terms of micro enterprises registration but it keeps slipping in rank when one moved to small and medium enterprises. He said that an urgent and significant boost to improve access to credit and funding sources is necessary to ensure increased investment in fixed capital for MSMEs in Rajasthan to move up the value chain.
Chairman, FICCI Rajasthan State Sub Committee on MSME & President, The Employers Association of Rajasthan, Mr. NK Jain said that there are various sectors which have growth potential and can be tapped. These include Agro Food Processing and Packaging, solar panel and equipment, EV cars and two wheelers manufacturing, Lithium ion battery, IT and Robotics, Hospitality sector, among others. He also suggested the need for upskilling for MSMEs in terms of technology and a MSME credit card.
Earlier in his welcome remarks, Chairman, FICCI Rajasthan State Council & CMD, Mandawa Hotels, Mr Randhir Vikram Singh said that the summit aims to unlock the growth potential of MSMEs by fostering knowledge sharing, collaboration, and networking among industry stakeholders.
A knowledge paper on ‘Empowering Small Businesses’ prepared by Resurgent India Ltd. was also released on the occasion. Later there were two panel discussions on Future Ready MSMEs and Reimaging Role of Regional Associations for MSME Growth Story. A session on business opportunities for MSMEs was also organized.
In the session on business opportunities for MSMEs, the Chief of Staff, South Western Command Lt. Gen. A Arun said that today India is the largest importer of defence equipment in the world. If increasingly more equipment could be made in India it will not only save foreign exchange but also foster employment. The MSME sector can play a huge role in the manufacture of such defence equipment. He also urged the MSME sector to focus their efforts and resources on Research and Development (R&D) which will enable them to produce quality equipment. He also pointed out that India for the first time exported defence equipment worth Rs. 12,815 crores in the last financial year. It is likely to go upto around Rs. 20,000 crores in the current financial year.