Pithampur Industries Push For Financial Aid, MSME Growth Ahead Of Finance Commission Visit

Indore, Mar 6 (KNN) Ahead of the 16th Finance Commission's visit to Madhya Pradesh’s Pithampur, industry groups and associations fr0m Indore have submitted a comprehensive series of proposals aimed at strengthening the region's industrial, skill and tourism infrastructure.

This initiative comes as part of the commission's ongoing assessment of financial landscape at both the Centre and state levels.

A four-member team of the Finance Commission will visit selected industries in Pithampur and will interact with chosen industry representatives on March 7, 2025.

The Pithampur Audhyogik Sangathan, representing the state's largest industrial hub, emphasised the pressing need for enhanced financial support to develop industrial corridors and improve power infrastructure.

Gautam Kothari, President, Pithampur Audhyogik Sangathan highlighted the challenges faced by micro, small, and medium enterprises (MSMEs), addressing issues such as credit limitations, elevated logistics costs, and sluggish technology adoption.

"Madhya Pradesh is an industrial hub, but, it lacks competitive fiscal incentives compared to other states,” said Kothari.

He also noted, “We urge for central funding focused on MSME modernisation, R&D, and export incentives.”

“There should be provision for capital subsidy for industrial expansion in Tier-2 & Tier-3 cities that will give a fillip to manufacturing and MSME segment," Kothari added.

In addition, Confederation of Indian Industry (CII) advocated for the establishment of a substantial international airport within the state, alongside an air cargo hub and an aircraft maintenance and operations centre.

CII maintained that as a landlocked state, Madhya Pradesh requires a world-class international airport to facilitate trade, enhance tourism, and improve connectivity, ultimately positioning it as a crucial economic and logistics hub for central India.

The MP Committee of the Hotel & Restaurant Association of Western India presented their requirements for substantial investments in transportation infrastructure, advocating for enhanced roads, railways, and air connectivity.

They also underscored the necessity for developing world-class hotels and resorts to attract more tourists.

The association emphasised the significance of skill development through the establishment of hospitality training centres, aimed at addressing the skill gap whilst creating employment opportunities and improving service quality in the sector.

Selected representatives fr0m the industry sectors in Indore will engage with the Finance Commission on vital areas that require attention and support for sustainable development in the region.

(KNN Bureau)