Odisha To Increase Budget For MSMEs Next Year: Chief Minister

Odisha Chief Minister Naveen Patnaik on Thursday said that the funds for the Micro, Small and Medium Enterprises (MSME) department will be substantially increased by the state government in the next state budget.

While inaugurating the MSME Trade fair 2021 through video conferencing, the Chief Minister said: "In the next financial year, the budget of MSME Department is being substantially increased. My government will always go the extra mile to help and encourage the MSMEs to encourage them to participate and contribute in building a vibrant and globally competitive new resurgent Odisha."

Stating that the impact of the Covid-19 pandemic has been far beyond the public health sector, the Chief Minister said due to restrictions which were required to control the spread of the virus, the economy has been severely affected. "The MSME sector particularly has been affected and it will take a long time to recover fully," he said.

He said that the government will continue to engage with the MSMEs and ensure that the COVID-19 impact is minimised.

"We have been working closely with millions of our micro-entrepreneurs in the form of Mission Shakti groups. I am glad to know that the Trade Fair has provided a special platform for them to showcase their products," the Chief Minister said.

He further said that Odisha is also doing well in the startup landscape for which it has been recognized at national level as a leader state. "The Startups are the future of industry and MSME because of their innovative and disruptive ideas," he added.

The Chief Minister announced that to provide a better eco-system, the government is constructing a dedicated state-of-the-art incubation centre in Odisha known as O-Hub.

"I am happy that this year we are able to organise MSME trade fair and meet today inspite of the COVID-19 pandemic situation since last year. Thankfully, with the cooperation of all, Odisha has been able to successfully overcome the COVID-19 health crisis," Mr Patnaik said.

Different PSUs of the national and state levels are participating this year. Women entrepreneurs and Mission Shakti groups, startups and the food processing units are the focal sectors for this year's event.

Keeping in view the prospective contribution of Mission Shakti groups in the socio-economic development of the state, special emphasis is being given for up-grading their members into successful entrepreneurs. An MoU in this regard has been signed between MSME Department and Mission Shakti.