PHD Chamber asks CM to focus on MSMEs

Says state must also leverage the benefits from Amritsar-Kolkata Industrial Corridor which is expected to boost the manufacturing and agriculture sectors

PHD Chamber of Commerce and Industry has asked Uttarakhand Chief Minister Harish Rawat to focus on MSMEs (micro, small and medium enterprises) in order to maintain high growth trajectory.

“Recently the Chamber had conducted a survey on MSMEs in Uttarakhand and found that they are significantly contributing to economic growth in the state. Though the state has taken effective measures for improving the socio-economic conditions, the government must focus on improving the quality of MSMEs in terms of infrastructure, electricity, connectivity and transportation facilities in the coming times,” said Sharad Jaipuria, president of the PHD Chamber after meeting the chief minister on Saturday.

The state must also leverage the benefits from Amritsar-Kolkata Industrial Corridor, which is expected to boost the manufacturing and agriculture sectors, Jaipuria said. In a nutshell, the state must adopt effective measures to attain high growth by reviving the tourism sector.

 It should encourage a steady flow of investments for promotion of MSMEs economy.

The Chamber has been actively working in Uttarakhand and was crucial in promoting tourism and infrastructural developments in MSMEs.

Jaipuria also assured the chief minister that the Chamber would continue to work with the state government, and help in the state's growth and development in future.

Stating that Uttarakhand has significant contribution to the overall development of the country, Jaipuria said the state has been growing at considerably high rates for the past many years. With an average growth of around 12 per cent in the last nine years (2006- 2014) and population of 10 million, the state contributes 1.2 per cent to India’s Gross State Domestic Product (GSDP). According to the Raghuram Rajan Committee Report on the Composite Development Index of states, Uttarakhand is a relatively developed state, he noted.

The chamber also noted that the state has enormous resources for adventure, cultural, leisure, pilgrimage and wildlife tourism. Though the state suffered huge loss in tourism sector due to last year’s deluge, the state has been doing well.

The state increased its per capita income significantly from Rs 24,726 in 2004-05 to Rs 1,03,349 in 2013-14. The state also posted high average social sector expenditure at 39.8 per cent in India’s GSDP between 2005-2013.

The industry share in GSDP of Uttarakhand was around 36 per cent during 2008-09 which increased to about 38 per cent during 2012-13.

Industry grew at around 12 per cent (annual average) between 2009-2013. The state boasts of a large number of enterprises in drugs and pharmaceuticals due to the availability of medicinal plants and herbs.

 

With pix Caption: Sharad Jaipuria president of PHD Chamber meeting Chief Minister Harish Rawat on Saturday in Dehradun.