West Bengal govt to invest Rs 26K cr to boost MSME sector

MSME projects would be set up in JVs or through PPP model creating employment opportunities for six lakh people in the state

West Bengal Chief Minister Mamata Banerjee today said that her government had initiated a plan to invest over Rs 26,000 crore for the development of MSME and Textile sector. She also said that a separate textile policy of state was being formulated by the government. Replying to a question in the state Assembly, Banerjee said that under the plan MSME projects would be set up in joint ventures or through PPP model creating employment opportunities for six lakh people in the state. The state government had earlier generated employment of 4.56 lakh people in the MSME sector in the last four years. With this initiative there would be a massive improvement in the MSME sector and definitely the units like handloom, hosiery, zari and many other units, she said.

Replying to a supplementary, Banerjee said that since 2006 the previous Left-led regime had been able to set up only 49 MSME clusters with an investment of Rs 16,764 crore, but in the last four years her government set up 180 MSME units covering many districts with an investment of Rs 55,740 crore. Describing development as a continuing process, the chief minister said that the state government has established synergies and offered comprehensive package to the investors in the MSME and textile sector. With the setting up of new textile policy, the sector would also improve much faster.

The state government is committed to promote MSMEs in the state by creating a sustainable financial ecosystem for the sector.

Considering the rapid growth of MSMEs in the state, the MSME & Textiles Department has already launched a Rs 200-crore Venture Capital Fund. Replying to another supplementary, Banerjee said that many more MSME clusters would come up in the state covering several districts to boost the sector.