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15/11/2018 03:13pm

Odisha Government receives investment proposal worth Rs 1,177 crore in MSME sector

image Odisha Government receives investment proposal worth Rs 1,177 crore in MSME sector

New Delhi, Nov 15 (KNN) In the micro, small and medium enterprises (MSME) sector, Odisha government has received investment proposal worth Rs 1,177 crore.

The investment intents were received during a special session to discuss the scope of the division in the state and the policies formulated by the state government to encourage such investors, said L N Gupta, State MSME Secretary.

He said, "Odisha-born and Gujarat-based investor Uday Shankar Sethi would invest Rs 800 crore on sea food processing in Odisha."

Though details on whom the interested investors are is not revealed.

Amendments in the Odisha MSME Development Policy, 2016 are also announced by the state government.

Small and medium enterprises (SME) have had a major presence in the Indian economy and contribute 37.54 per cent of India's gross domestic product or GDP, said Prafulla Samal, MSME minister.

Samal said, "The share of the MSME's manufacturing output in the total manufacturing output of the country is to the tune of 37.33 per cent according to the latest available information. The state government has prioritized the development of the MSME sector with a slew of policy initiatives and incentives,"

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