29k new MSME units invested Rs 2,200 cr in Odisha in FY15

As many as 29,866 micro, small and medium enterprises (MSMEs) have gone into production in Odisha with an investment of Rs 2,267.24 crore in 2014-15, as per the Odisha Economic Survey report for 2015-16.

Those MSMEs which have gone on stream in the last financial have generated employment for 1,07,011 persons. With 29,866 MSMEs set up during the period under review, the total operational units in the state are now 1,60,167. Cumulatively Rs 7,906.25 crore have been invested in 0.16 million units creating employment opportunities for 8,45,489 persons.

During last five years between 2010-11 and 2014-15, 53,327 MSME units had gone into production with a total investment of Rs 4,265.32 crore generating employment for 0.22 million people.

Sundergarh district has emerged as numero uno with maximum number of 3,229 MSMEs going into production during this period followed by Cuttack (2,190 units), Khurda (2,187 units), Jajpur (2,008 units) and Ganjam (1,854 units).

Malakangiri district ranks last among the thirty districts with only 160 units starting production in the FY15 with investment of Rs 4.37 crore.

The data collated in the Odisha Economic Survey- 2015-16 states that maximum number of MSMEs belong to the repairing and services sub-sector, accounting for 43.7 per cent of total producing units with 37.5 per cent share of investment and 27 per cent of employment.

The food and allied sectors manufacturing units share is 17.8 per cent of the units, 21.7 per cent of the investment and 18 per cent of employment generation by the MSME units in the state. Similarly, the glass and ceramics sub sector employ 17 per cent of the employment in the MSME sector.

"MSME sector shows upswing trend over the years both in number of units, investment and employment generation", read the report.

However, industrial sickness among MSMEs remains a major problem, added the report.