Will Allocate INR 100 Crores To Nurture Entrepreneurship: Haryana Govt

Deputy Chief Minister of Haryana on Tuesday said that the state will be allocating INR 100 crores in their upcoming budget as a part of new innovative incentives, setting up incubation centres, and assistance for loans, all aimed at fostering balanced regional development and nurturing entrepreneurship among youth.

Addressing the 3rd ASSOCHAM Haryana MSME Samvaad, Chautala said that the state government’s vision is to build Haryana as the competitive and most favoured investment destination.

“Haryana MSME sector also has to attract investment of over INR one lakh crore and generate five lakh jobs in the state and to reach this target and lay the foundation of ‘Aatmanirbhar Bharat’,” he said.

He also  said that the Micro, Small, and Medium Enterprises (MSME) sector in Haryana has witnessed remarkable growth, with a staggering 2,81,024 new MSME manufacturing units registered in the past five years. “This has created more than 15 lakh jobs and has propelled Haryana to the top ranking among all northern states, contributing significantly to the state’s GDP and employment,” he added.

He explained that in line with the state's focus on bolstering the MSME ecosystem, the PADMA scheme, or the Programme to Accelerate Development for MSME Advancement, was introduced. This comprehensive programme aims to establish dynamic and self-sustainable industrial infrastructure at the cluster level, facilitating local product promotion and generating employment opportunities for the youth and Antyodaya families. The PADMA scheme includes a venture capital fund of INR 200 crore to support the growth of MSMEs, encourage entrepreneurship, and foster start-up development, he said.

Recognising the potential of the textile industry, the Haryana AtmaNirbhar Textile Policy has positioned the state as a key player in the sector.

Chautala said that through a robust package of incentives, infrastructure support, and skill development programmes, the policy has stimulated investment, innovation, and employment generation in the textile sector. 

He said that Haryana’s commitment to sustainability, technological advancements, and export-led growth has solidified its status as a prominent textile manufacturing and trade hub.

He informed that the establishment of a dedicated Project Management Unit (PMU) in Haryana showcases the government’s unwavering commitment to bolstering and empowering small and medium enterprises (SMEs) within the MSME ecosystem. Through this proactive initiative, the Haryana government addresses the challenges faced by SMEs and fosters an environment conducive to their growth and success.

“The PMU will streamline processes, provide technical assistance, facilitate access to finance, and promote entrepreneurship, catalysing the growth of MSMEs and contributing to our state's economic development and prosperity,” he added.

Anand Mohan Sharan, IAS, Additional Chief Secretary Industries & Commerce, Government of Haryana said MSME formalisation plays a huge role in the state’s economy and is the backbone of the industry. The developmental ecosystem provided in Haryana for MSMEs is phenomenal and there are plethora of schemes to incentivize MSMEs. Infact Haryana has the highest number of schemes formulates just for the MSME sector. 

He further said, Multiple focus areas include MSME manufacturing and innovation policies, medical devices policies, electronic policies. The Government's vision is to support women entrepreneurs and weaker sections to ensure employment. Digital commerce is the leading trend post COVID-19, lot of MSMEs coming out with their products and services. PADMA scheme initiates acceleration of small businesses and Haryana state is adamant to implement where budding entrepreneurs can come up. There is a short supply of land in the state but there is a concern for cheap and affordable space.

Swatantra Kumar Singal, Chairman, Haryana Renewable Energy Development Agency shared that, “Conducive policy regime and adoption of energy conservation measures will help MSMEs to produce cost effective products.”

Vijay Sharma, Chairman, ASSOCHAM Haryana Development Council said that Haryana has a huge potential to become the hub of MSMEs not only in India but at the global level.

“Today’s deliberations, which focussed on making Haryana a preferred investment destination, strengthening digital ecosystem and unlocking new schemes for MSMEs in the state, would go a long way in scaling the greater heights of success by MSMEs in the state,” he said.

SV Goyal, Co-Chairman, ASSOCHAM North Regional Development Council mentioned that the road to self-reliance goes through MSMEs and Haryana, which has one of the best ecosystems in the country. According to him, a number of experts and industry representatives deliberated upon various issues linked to MSMEs including financing, incentives and ease of doing business, and role of energy conservation for MSMEs.

In his concluding remarks Jyoti Prakash Gadia, Co-Chair, ASSOCHAM Haryana State Development Council and MD, Resurgent India said that fuelling the collective drive to achieve excellence and unlock the true potential of MSME sector in Haryana is the need of the hour. He also congratulated the winners of the Haryana MSME Excellence Recognition Awards and their unwavering commitment to excellence.