2 days ago
- Business
- New Indian Express
11 new MSME parks to come up in Odisha
BHUBANESWAR: The Odisha government has commenced the process for the development of 11 new MSME parks and upgradation of the existing ones to promote modern multi-sector industrial parks at strategic locations.
These parks will be equipped with comprehensive facilities that can be scaled according to operational needs, along with modern amenities. The government is also planning to develop MSME parks in every district.
Additional chief secretary of Industries and MSME Hemant Sharma said the small and medium enterprises provide employment to around 40.9 lakh people in the state, positioning MSMEs as the largest employment-generating sector after agriculture in the state.
Advances to MSMEs have increased from Rs 41,200 crore in 2019-120 to Rs 90,600 crore at a CAGR of 21.8 per cent. The share of micro-enterprises in MSME advances has risen to 10.3 pc as against the benchmark of 7.5 pc. 'The increase in advances is enabling the enterprises to expand, modernise and contribute more significantly to economic diversification and employment in the state,' Sharma said.
