According to a top government official, the government of Odisha has plans to establish MSMEs parks in each of the state's 30 districts. According to chief secretary S C Mohapatra, MSMEs will receive all infrastructure support, including land, electricity, and water in the districts.
He stated at the Propack Odisha 2022 and MSME Odisha 2022 closing session organized by the Odisha Assembly of Small and Medium Enterprises (OASME) on Sunday that the Odisha Industrial Infrastructure Development Corporation (IDCO) has been given more than Rs 450 crore to develop the necessary infrastructure in the districts for the purpose.
In the last few years, we saw 30-40% growth in finance to MSMEs by banks which is encouraging. Chief Minister Naveen Patnaik has held two rounds of meetings with bankers in this regard, Mohapatra said in response to entrepreneurs' allegations of non-cooperation from banks.
Odisha Industries Minister P K Deb said the younger generation must take risks and not depend only on government support. The best industrial infrastructure is in Odisha. Odisha is getting big, heavy industries. But MSME is what the state wants most. He advised the business organizations to step forward and propose policy reform for improved industrialization.
Given that this industry is a key pillar of economic growth, state finance secretary Vishal Dev asked banks to guarantee that financing was available for MSMEs. But this sector's industries frequently struggle with funding.
Banks, he said, have been told to ensure the availability of finance for MSMEs and look after the quality part of finance. The government is also proactively organizing workshops with several banks and trade platforms on a regular basis.
Our plan is to add all PSU banks to trade discounting platforms by the year-end. It will greatly help MSME, Dev said, and urged banks to lend more than what is targeted for them.
