Madhya Pradesh is to organise, for the first time, a day-long session for small and medium-scale enterprises (SMEs) in a forthcoming global investors’ meet. The SME segment, which remained neglected during the last few years, has outperformed the large and medium-scale sector.
Moreover, investment in the large and medium-scale sector have created less jobs in the state than SMEs. “The state’s SMEs have generated nearly six jobs per unit. Bankers’ data show investment has gone up during the last eight years in the SME sector,” said R S Goswami, chairman, the Confederation of Indian Industry’s MP chapter.
According to government data, large firms generated around 20,000 jobs during the last eight years, while SMEs have performed far better. “SMEs offers more jobs as they are mainly labour-intensive. Indore-Pithampur, which has around 6,000 units, provided jobs to 25,000 people. Apart from these, the units also provide indirect employment,” said Vijay Agrawal, president, Association of Industries Madhya Pradesh.