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Maharashtra logs high growth in MSME registrations: Report

Updated: Sep 27, 2017 10:52:22am
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Maharashtra logs high growth in MSME registrations: Report

New Delhi, Sept 27 (KNN) Indicating towards the rising number of Micro, Small and Medium Enterprises (MSMEs) in the state, Maharashtra recorded rise in the registrations of MSMEs, a report by ASSOCHAM revealed.

According to the report titled Manufacturing excellence and emergence in India' report by industry chamber ASSOCHAM, there have been a 129 per cent hike in terms of MSME registration under the entrepreneurs memorandum part II.

Apart from it having the higher number of registrations, the state also performed positive on different parameters including return on capital, operational ratio, value addition and input cost.

Following Maharashtra, Uttar Pradesh ranked second with over 69 per cent growth in the number of registrations, followed by Tamil Nadu.

Also Goa and West Bengal registered a rise of 55 per cent and 47 per cent respectively.

While these states registered positive trends, Gujarat experienced a fall of over 6 per cent in the number of MSME registrations taking the state to the 14th rank.

Suggesting measures for reboot, the report said that Gujarat needs to focus on the manufacturing sector. Also reformative measures on different dimensions including factor productivity and fixed capital income ratio is important to ensure growth of the sector in the state.

The report by ASSOCHAM was based on various indicators including number of factories, output value, working capital, net fixed capital formation.

Also the fixed capital, volume of finished goods, etc. were considered during the evaluation. (KNN/ DA)

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