Haryana To Unveil MSME Policy To Attract Rs 55,000 Crore Investment, Create 5 Lakh Jobs

Chandigarh, Jul 30 (KNN) The Haryana government to unveil a new MSME and Export Promotion Policy aiming at attracting over Rs 55,000 crore in manufacturing investment, creating more than 5 lakh jobs and doubling exports over the next five years.

Approved under the leadership of Chief Minister Nayab Singh Saini, the policy introduces 60 initiatives for the micro, small and medium enterprises (MSME) sector as Haryana approaches its 60th year of formation.

Policy Focuses on Manufacturing, Exports and Technology

The policy aims to position Haryana as a technology-driven manufacturing and export hub, focusing on financial support, technology adoption, infrastructure, exports, green manufacturing and skills. 

MSMEs will receive capital subsidies of 15–30 percent, while a Rs 200 crore Venture Capital Fund will support innovation-led startups, reported Times Of India.

An MSME Insurance Scheme will cover up to one-third of premiums, while exporters will get 3 percent interest subvention on export credit, capped at Rs 10 lakh annually. 

Government Plans Plug-and-Play Industrial Clusters

To strengthen industrial infrastructure, the government plans to develop plug-and-play clusters across a minimum of five acres and establish district-level single-window systems to expedite statutory approvals.

Export support has also been expanded, with freight assistance increased to Rs 30 lakh per unit annually. The policy proposes a Rs 10 crore 'Export Booster' grant and financial assistance of up to Rs 20 lakh annually for first-time exporters.

Technology Adoption and R&D Get Policy Push

The policy prioritises technology upgradation, offering 25 percent financial assistance of Rs 50 lakh to Rs 1 crore for industries adopting robotics, IoT and smart manufacturing. 

R&D centres can receive grants of up to Rs 5 crore, while AI laboratories will qualify for 33 percent financial support. Incentives are also available for quality certifications, e-commerce exports and renewable energy adoption.

Rs 100 Crore Green Fund Proposed

A Rs 100 crore Green Investments Fund has been proposed to support sustainable industrial projects, including rooftop solar systems, effluent treatment plants and zero-liquid-discharge facilities.

Industries employing local youth will receive incentives of Rs 1 lakh to Rs 1.2 lakh per employee annually, according to the government.

Policy Aligned With Haryana Vision 2047

Officials said the policy is aligned with Haryana's Vision 2047 roadmap and aims to establish the state as a globally competitive manufacturing and export destination by integrating investment, innovation, entrepreneurship and employment.

(KNN Bureau)