Business News | Govt's Proposed Rs 277 Crore MSME Investment Set to Boost India's Economy: Industry Officials
Get latest articles and stories on Business at LatestLY. The government's proposed Rs 277 crore investment in the MSME sector by 2027 is expected to accelerate digitalisation of small businesses and strengthen their contribution to India's economic growth, industry officials said.
Baripada (Odisha) [India], July 29 (ANI): The government's proposed Rs 277 crore investment in the MSME sector by 2027 is expected to accelerate digitalisation of the MSME sector and strengthen their contribution to India's economic growth, industry officials said.
Speaking to ANI, Manoj Mohan Sinha, Zonal Manager, MSME, Government of India, on the sidelines of an MSME awareness programme in Odisha, said the Indian government has allocated Rs 277 crore by 2027 to onboard 5 lakh MSMEs onto the ONDC platform.
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"The Indian government has promised Rs 277 crore by 2027 that we will onboard 500,000 MSMEs on the ONDC platform, of which 50 per cent will be women," he said.
As per Sinha, MSMEs will be completely digitalised in the future and greatly contribute to the country's economic growth.
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"MSMEs will be completely digitalised, and they will have a huge contribution to the economic growth of the country," he noted.
Rasmi Rajalaxmi Bhanja Deo, HH, Mayurbhanj, said, Odisha will likely see wider market access and improved livelihood opportunities for MSMEs as more local enterprises are brought into the digital commerce ecosystem, with around 15,000-16,000 MSMEs already registered in the district.
"Mayurbhanj has around 15,000 to 16,000 already registered MSMEs. So, I think it will be a great step for the people who are already associated with them and more people can join these MSME projects," she said.
Deo further added that the initiative is expected to improve livelihoods and enhance the market value of local products by enabling MSMEs to reach markets beyond Odisha, across India and potentially internationally.
"I think it will increase their livelihood and also increase the market value of the products because it will not be sent only to Odisha but out of Odisha to all parts of India and maybe internationally also," she said.
The government conducted an MSME awareness programme in Odisha, collaborating with the Ministry of Micro, Small and Medium Enterprises (MSME) and National Small Industries Corporation (NSIC) as the implementing agency on Wednesday. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)