ENA MSME 2024-09-12 14:06:06 <p><span style="font-size:14px"><strong>Ranchi, Sep 12 (KNN)</strong> Union Minister for Micro, Small and Medium Enterprises (MSME), Jitan Ram Manjhi, unveiled a substantial development package for Jharkhand's MSME sector on Wednesday.</span></p> <p><span style="font-size:14px">Speaking at an MSME conclave in Ranchi, Manjhi announced an allocation of Rs 220 crore to bolster the state's small business landscape.</span></p> <p><span style="font-size:14px">The package includes Rs 120 crore for the establishment of four new industrial clusters and Rs 30 crore for three additional technology centres in Jharkhand.</span></p> <p><span style="font-size:14px">This initiative aims to stimulate growth in the eastern region's MSME sector, which has historically lagged behind its western and southern counterparts.</span></p> <p><span style="font-size:14px">Manjhi emphasised the MSME sector's significant role in job creation, noting that it currently employs 20.56 crore people nationwide.</span></p> <p><span style="font-size:14px">The minister expressed an ambitious goal to double this figure to 40 crore, underlining the sector's potential for further expansion.</span></p> <p><span style="font-size:14px">Highlighting the sector's economic impact, Manjhi stated that MSMEs contribute approximately 30 per cent to India's GDP.</span></p> <p><span style="font-size:14px">However, he pointed out that this contribution could potentially reach 60 per cent if development were more evenly distributed across the country.</span></p> <p><span style="font-size:14px">The minister acknowledged the current geographic disparity in MSME development, with concentration primarily in western and southern India.</span></p> <p><span style="font-size:14px"> We want to break the unequal distribution and spread its net in eastern and northern regions of the country, Manjhi said, indicating a strategic shift towards more balanced regional growth.</span></p> <p><span style="font-size:14px">This announcement reflects the government's commitment to fostering MSME development in underserved regions, potentially paving the way for increased economic activity and job creation in states like Jharkhand.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39245 https://knnindia.co.in/news/newsdetails/msme/msme-minister-announces-rs-220-crore-development-package-for-jharkhand 2024-09-12 14:06:06 knnindia.co.in