Rajasthan govt's new policy set to give a fillip to MSMEs in state

To give a boost to the micro, small and medium enterprises (MSME) sector, the Bhajan Lal Sharma government in Rajasthan has launched a new state MSME Policy 2024.

 

It is part of the nine new policies rolled out ahead of the Rising Rajasthan global investment summit.

 

The Rising Rajasthan investment summit will be held in Jaipur during December 9-11. Prime Minister Narendra Modi is slated to inaugurate the event.

 

Chief Minister Bhajan Lal Sharma, Deputy CMs Diya Kumari and Prem Chand Bairwa, and Commerce Minister Rajyavardhan Singh Rathore held roadshows in India and abroad to seek investments for the state.

 

The state government claims that it received investment commitments worth over Rs 25 trillion so far.

 

“We have launched Rajasthan MSME Policy 2024, to realise the vision of creating a globally competitive and locally relevant MSME sector,” Sharma said.

 

“This policy focuses on the development of an efficient MSME ecosystem through a combination of fiscal and non-fiscal interventions. The policy initiatives are aligned to realise the dream of making state MSMEs self-reliant by promoting rapid and inclusive growth,” he added.

 

An industries department official said that the state's endeavour is to provide an enabling and conducive environment for them to attain a high competence level. “To realise this vision, the strategy for MSME development focuses on a combination of fiscal and non-fiscal interventions,” the official said.

 

Giving details, he said that the MSME policy has been developed as a one-stop solution for all incentives being offered by the state government.

 

The official pointed out that the policy envisages establishing 20,000 new MSME units with a cumulative investment of Rs 10,000 crore that will generate jobs for 100,000 people.