UP Gov's decision to revamp Udyog Bandhu will yield better results for MSMEs: IIA

New Delhi, Aug 6 (KNN) The Uttar Pradesh Government has plans to revamp Udyog Bandhu, the state government organization dedicated to facilitate investment in industrial and service sectors besides solving various problems of existing and up-coming industries.

The revamping would be on the lines of Punjab and Gujarat models of industrialization. The UP government has decided to revamp the body as a part of its ongoing efforts to streamline investment in the state.

Talking about this with KNN India, Indian Industries Association (IIA) President, Sunil Vaish said this restructuring will give better results to industries especially the micro, small and medium enterprises (MSMEs).

He said “With the revamp of Udyog Bandhu the problems of MSMEs will get reduced by 80%.”

The decision taken in this regard is a remarkable move as there were lots of limitations in the addressing system of the organization, he added.

Vaish said, "We are studying the other drafts also and we will see what other suggestions IIA could give in order to make this organization more powerful and sound."

"It was our long pending demand and we are happy that after Udyog Mahasamelan and Udyog Bandhu meet government has finally made this decision," added Vaish.

Navneet Sehgal, Principal Secretary, Khadi Gramodyog, UP Government,  made a presentation related with Udyog Bandhu restructuring before chief minister Yogi Adityanath.

The Uttar Pradesh Government, during its 8^th Udyog Bandhu meeting last week, disposed as many as 51 issues which included some major policy issues for several sectors. The meeting was presided by Industrial Investment and Development Commissioner and Chief Secretary Anup Chandra Pandey.