Union Minister Jitan Ram Manjhi on Wednesday announced Rs 220 crore for development of Micro, Small, and Medium Enterprises sector in Jharkhand. The Union Micro, Small and Medium Enterprises minister said that four new clusters and three additional technology centres would be set up in the state.
"To give a boost to MSME sector in eastern region, I announce Rs 220 crore for Jharkhand including Rs 120 crore for setting up four new clusters and Rs 30 crore for establishing three additional technology centres in the state," Manjhi said while addressing MSME conclave here in Ranchi.
He said that the MSME sector has great contribution in the country in terms of providing jobs.
"The sector has provided jobs to 20.56 crore people. But the number is still low. We want the sector to employ at least 40 crore people, and we will achieve this target," he said.
He said that the MSME's contribution to India's GDP is around 30%.
Manjhi pointed out that the development of MSME has not been equal across the country. Its development is mostly concentrated in western and southern parts of the country.
"Eastern and northern regions are still lagging behind. We want to break the unequal distribution and spread its net in eastern and northern regions of the country," Manjhi said.
"Had the distribution of the sector been equal across the country, its contribution to GDP would have been around 60%," he said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
