Bhopal, April 12 (KNN) The micro, small and medium enterprises (MSMEs) are the backbone of the state economy of Madhya Pradesh as it is the top sector that generates employment in the state, said Sanjeev Agarwal, Chairman, PHDCCI Madhya Pradesh unit.

Speaking at a conference hosted by PHD Chamber of Commerce and Industries on Monday, Agarwal talked about encouraging MSME industries through simplification of the loan process by the financial institution and promotion of technology.

Our country has a large population with the largest youth population, so it is not possible that government jobs are available for everyone, hence we should motivate more and more youth to set up small industries, he added.

He appreciated Chief Minister Shivraj Chouhan for recently launching the Udyam Kranti Yojana to promote employment and industries, in which loans would be given to the youth to set up industries without guarantee.

The conference was also attended by senior officers of SIDBI, State Bank of India and many other industrialists of the state.

The program was inaugurated by OP Saklecha, Cabinet Minister, Department of MSME, Science and Technology in the Government of Madhya Pradesh.

Cabinet Minister OP Saklecha spoke about the finance facility for MSMEs and various schemes being run by the central and Madhya Pradesh government.

He appreciated the efforts being made by the PHD Chamber and discussed the implementation of complexities related to the Chamber and MSMEs.

The Minister further stressed on using technology in the right time and right way in the rapidly changing environment and finance management.

State Bank of India's Chief General Manager Binod Kumar Mishra highlighted the efforts being made by the State Bank to further strengthen the MSMEs in the country and assured for finance and all possible cooperation by the State Bank in the program. (KNN Bureau)