Gujarat Govt extends incentives worth Rs 700 crore to MSMEs

New Delhi, August 21 (KNN) In a bid to promote the Micro, Small and Medium Enterprises (MSMEs) in the region, the state government handed over incentives worth Rs 700 crore to over 50 MSMEs of the state.

Highlighting the contribution of the Micro, Small and Medium Enterprises in the state of Gujarat, Chief Minister Vijay Rupani said that the MSMEs are leading the way for the industries in the country.

The CM further informed that at present Gujarat houses more than 6 lakh MSMEs, outnumbering almost all other states in the country. Also the big companies in the country today have mushroomed from a small or a micro unit.

Rupani asserted that it is important for the MSMEs to be allowed to excel in their own capacities. With the sector in its best shape, it is able to attract investments in different industries, thus adding to the overall economy.

The Minister also related the MSMEs with the larger Swadesi movement that finds its traces in the freedom struggle that called for an industry mechanism of self-reliance.

The State government also informed that with the booming of the MSME sector in the state, the new MSME units have successfully attracted investments worth 5000 crore, adding not just to growth but also to the generation of jobs in the state. (KNN/DA)