Uttar Pradesh to play major role in making India global supply chain: Minister
The state government had set the export target of ₹3 lakh crore for the next three years. Uttar Pradesh will play a major role in making India a global supply chain, MSME minister Siddharth Nath Singh said at the Ubharte Sitaare’ conclave –cum expo.
Lucknow: Micro Small and Medium Enterprises (MSME) minister in the state government Siddharth Nath Singh said on Thursday that Uttar Pradesh would play a prominent role in making India a global supply chain.
Inaugurating the one-day ‘Ubharte Sitaare’ conclave –cum expo, Singh said that in the last financial year, Uttar Pradesh exported products worth ₹1.21 lakh crore.
“The state government has set the export target of ₹3 lakh crore for the next three years. Uttar Pradesh will play a major role in making India a global supply chain,” he said.
“In the last four and half years, around 80 to 85 lakh new MSME units have come up across the state due to promotional policies of the state government. These units are in addition to the already existing 90 lakh MSME units,” said Singh.
Also present on the occasion, Navneet Sehgal, additional chief secretary, MSME, said that the export plan of every district was being prepared.
Sehgal also informed that 1,000 new units had registered in the Export Promotion Council.
Union finance minister Nirmala Sitharaman had launched ‘Ubharte Sitaare Fund’ for export-oriented small and mid-sized companies and start-ups, in August this year.
The fund has been set up by the Exim Bank along with the Small Industries Development Bank of India (SIDBI). Sitharaman, in her budget speech in 2020, had pointed out that micro, small and medium enterprises (MSMEs) were important to keep the “wheels of the economy moving”, adding they created jobs, innovated and were risk-takers.