Latest news with #MYUVA
Time of India
06-05-2025
- Business
- Time of India
MSMEs must stay updated with market demands: CM
1 2 Lucknow: Chief Minister Yogi Adityanath on Tuesday called for continuous upskilling and modernisation of MSME units in the state to ensure they evolve with changing demand."With close to 96 lakh units, UP is home to the largest MSME base. The youth engaged in the sector, or aspiring entrepreneurs under the MYUVA scheme, must receive comprehensive and high-quality training before being granted loans," he said during a review of the department on CM outlined the importance of the MSME sector for the state as it contributes around 46% to UP's total exports while generating direct and indirect employment for over 1.65 crore people."It is necessary to use this sector to gain global recognition for UP's traditional craftsmanship, agro-based products, and innovation-led enterprises. All state schemes should prioritise the economic empowerment of youth, women, entrepreneurs and rural communities. We need to monitor these initiatives regularly to ensure effective implementation," he CM was informed that in 2023-24, over 3.21 lakh youth registered under the Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA). Highlighting that a target of 1 lakh beneficiaries annually was set, yogi said coordination with banks should be strengthened and beneficiaries be trained before funds are released to the Vishwakarma Shram Samman Yojana, the number of trained artisans and toolkit distributions saw a significant jump, from 7,600 beneficiaries in 2018-19 to over 75,000 in 2023-24. The CM asked officials to further expand its the flatted factory complex as an effective approach to facilitate multi-unit industrial operations in limited urban spaces, the CM cited Kanpur as a successful example and recommended replicating the model in other cities as the Mukhyamantri Swarojgar Yojana, margin money of Rs 760 crore was disbursed against over 31,000 applications, creating approximately 2.5 lakh jobs, officials informed the the One District One Product (ODOP) initiative, the CM hailed it for having revived traditional crafts and small-scale industries across the 2018, margin money of Rs 635 crore was disbursed under the scheme, in addition to extensive support in training, marketing, design and technical assistance. He directed officials to enhance global branding, packaging, and design of ODOP outcomes to strengthen their competitiveness. The CM was informed that UP leads the nation with 77 products having received GI tags while registration was underway for an additional 25 products.A target was set to secure GI tags for 75 more products in the current financial year. To boost awareness and marketability of GI-tagged items, Yogi said relevant entrepreneurs should be registered as GI Authorised Users, helping preserve product authenticity and promote effective branding.
Time of India
03-05-2025
- Business
- Time of India
UP govt targets 1.5L entrepreneurs to fast-track MYUVA scheme
Lucknow: The Uttar Pradesh govt has fixed a target of 1.5 lakh beneficiaries for its flagship scheme, Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA), for the financial year 2025-26. The initiative aims to provide support to aspiring entrepreneurs to establish self-employment ventures and contribute to the state's growing economy. The target was set in a recent review meeting held by the department of micro, small and medium enterprises and export promotion. The status, future targets and detailed plan for the scheme were discussed, said an official spokesperson on Saturday. "The campaign focuses not only on financial assistance but also on training, capacity building and easing the process of setting up new enterprises. For this, the govt has partnered with nationalised banks which are handling registration, application approval, and fund disbursement processes under the campaign," the official said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo The official added that the banks have been directed to establish a clear framework for processing pending applications within a specified timeframe. Once approved, funds will be disbursed promptly to enable youth to launch their businesses. Data released by the department revealed that among the banks, State Bank of India (SBI) is leading in performance.
