UP CM launches online fair for MSMEs, gives out loans worth over Rs 2k cr

To give a boost to the MSMEs in Uttar Pradesh, Chief Minister Yogi Adityanath on Thursday launched an online fair in which he distributed loans worth over Rs 2,000 crore to entrepreneurs.

According to an official spokesman, the preparations for the loan fair were already in place through one district one product (ODOP) project, but roadblocks cropped up due to the outbreak of coronavirus.

In the online loan fair which was launched at his official residence, he distributed loans worth more than Rs 2,000 crore to 56,754 entrepreneurs, the spokesman said.

He said this will provide additional employment to more than two lakh people and added that with this initiative Uttar Pradesh has become the first state to provide loans to such a large number of entrepreneurs transparently in such a short amount of time during the lockdown.

On the occasion, the chief minister also launched 'Sathi' portal for the MSMEs.

Adityanath said that workers and labourers are the strength and capital of the state.

"We will utilize their labour and skills to make UP a manufacturing hub of the country and the world. This is the best opportunity for us to eradicate the stigma of migration," the chief minister said.

"A record of skills of every labourer is also being prepared so that those coming from other states can contribute in the rebuilding of the state," he said.

Adityanath said that on Diwali, Gauri-Ganesh idols from China are sold on a large scale throughout the country and it will be the government's endeavour that this time local units provide an alternative.

The entrepreneurs of Gorakhpur who make terracotta goods have this skill and can also make sculptures of a superior quality as compared to China, he said, adding that the government will provide all possible help for it.

The chief minister said the MSME sector of Uttar Pradesh is the largest in India.

"In this sector, there are many such units whose products are popular across the world. The only need is to give them opportunities. During the coronavirus epidemic, 26 new units of PPE (Personal Protection Equipment) were established in UP. There are many more such examples," he said.

Stressing that there are immense opportunities in One District One Product (ODOP) project, he said such units will benefit from this economic package.

"The products which have already established themselves as a brand in the country will be recognized and strengthened in the world. This will help in giving maximum employment at the local level through minimum capital. Also, the per capita income of the state will increase," he said.