Multiple Schemes Being Implemented To Boost MSMEs In Chemical, Pharma Sectors: Nadda

New Delhi, Feb 7 (KNN) The government is implementing several national-level schemes to promote entrepreneurship and small businesses, including those engaged in chemicals, pharmaceuticals and allied manufacturing, Lok Sabha was informed.

In a written reply to a question, Union Minister for Chemicals and Fertilizers Jagat Prakash Nadda said these schemes are available to eligible entrepreneurs in Uttar Pradesh, with a focus on employment generation and promotion of youth and women entrepreneurship.

Key central schemes include the Prime Minister’s Employment Generation Programme (PMEGP), Credit Guarantee Scheme for Micro and Small Enterprises (CGTMSE), Micro and Small Enterprises-Cluster Development Programme (MSE-CDP) and Entrepreneurship Skill Development Programme (ESDP).

It also includes Procurement and Marketing Support Scheme, Raising and Accelerating MSME Performance (RAMP), International Cooperation Scheme, Tool Rooms/Technology Centre System Programme, National SC/ST Hub, MSME Champions Scheme and PM Vishwakarma, among others.

The Minister also outlined steps taken by the Uttar Pradesh Government to support local entrepreneurship in chemical, fertilizer and pharmaceutical manufacturing.

Under the MSME Policy 2022, manufacturing units in these sectors are being incentivised across the State through capital subsidy, interest subsidy, CGTMSE coverage and reimbursement of employer’s EPF contribution. Micro and small units are also benefiting under technical schemes through capital subsidies, interest subsidies and branding assistance.

Further, under the ‘Ease of Doing Business’ initiative, approvals are being facilitated in a simplified and time-bound manner through the ‘Single Window System’ operated via Invest UP.

State schemes such as the ‘Mukhyamantri Yuva Udyami Vikas Yojana (CM YUVA)’, ‘One District One Product (ODOP)’, and ‘Mukhyamantri Yuva Swarozgar Yojana’ are also being implemented to promote youth and women entrepreneurs.

These initiatives provide training, credit support, guidance and subsidies, encouraging enterprise creation in pharmaceutical, chemical and allied manufacturing sectors.

Through these industrial and investment policies, adequate support is being extended to strengthen local entrepreneurship, generate employment and empower youth and women entrepreneurs, the Minister added.

(KNN Bureau)