Focus shifts to MSMEs in Uttarakhand

After extending its hospitality to the the big names in the industrial world like Hero Honda, Tata Motors, Nestle, M and M. Uttarakhand now plans to shift focus to Micro, Small and Medium Enterprises (MSMEs). From April 1 this year, the new hill industrial policy has come into effect, which will focus on the small industries

Though the government has announced a slew of fiscal incentives like full exemption in stamp duty for the new units , business chambers feel the steps are inadequate. Due to tough geographical and other adverse conditions, business chambers in the state have called for a dedicated and focused scheme for the development of MSMEs .

"In a hilly state like Uttarakhand where the cost of production is high due to the difficult terrain and inadequate industrial infrastructure, various incentives by way of support, subsidy, waivers etc are justified to make the processes and products competitive," says Pankaj Gupta, president of Industry Association of Uttarakhand (IAU), an umbrella organisation of SMEs in the state.