MP govt to provide 40 per cent grant for MSMEs under 'Madhya Pradesh MSME Protsahan Yojana'

Bhopal, Oct 29 (KNN) In a bid to boost Micro Small and Medium Enterprises (MSMEs), the  Madhya Pradesh government has launched a scheme called 'Madhya Pradesh MSME Protsahan Yojana' which would focus on attracting investment and encouraging job creation among MSMEs in the state.

Under the scheme, the government would provide 40 per cent grant for setting up businesses in the state along with a provision of acquiring cheap land by providing 70 per cent of employment to locals and representation of STs, SCs, and OBCs.

However, the scheme has already been implemented since October 1, 2019, and would provide the grant in four instalments while women and SC-ST entrepreneurs would get an additional grant of 2-2.5 per cent.

The investment summit organised by the state government earlier this month saw India Inc top leaders including Dilip Shanghvi, Sanjiv Puri, Vikram Kirloskar, Adi Godrej, Rakesh Bharti Mittal and N Srinivasan announcing their plans to invest in the state.

Reliance chairman Mukesh Ambani through a video message announced that the company will be setting up national distribution centres in Madhya Pradesh with over 10 million sq ft of space across 45 locations. Reliance has over 600 stores and 100 petroleum retail outlets in the state.

MP was ranked 12 in terms of number of DPIIT recognised startups in India with only 525 such startups while Maharashtra had 3,661 and Karnataka had 2,847 startups — highest in the ranking.

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