Jaipur, Sep 17 (PTI) Rajasthan Industries Minister Shakuntala Rawat on Saturday launched the MSME Policy-2022 and the Handicrafts Policy with a vision to provide favourable business environment.

The MSME policy envisages to set up 20,000 new MSME units with a total investment of Rs 10,000 crore and creating jobs for 1 lakh people.

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Gehlot who was scheduled to take part in the event could not come due to other commitments.

The policy proposes to give a relaxation of five years in approvals and inspections for setting up and promotion of the MSME units, an official statement said.

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In the 2019 policy, the relaxation period was three years, it said.

In the last four years, over 37.33 lakh people have got jobs in the micro, small, and medium enterprises, or the MSME sector, and its contribution to the GDP has been estimated to be 24.50 per cent.

In the financial year 2021-22, the total export of MSME industries was 72,000 crore.

The new policy is being brought to increase the contribution of MSMEs in the state's Gross Domestic Product (GSDP), as well as exports, the official statement said.

Under this policy, the government will seek to create a favourable regulatory environment for the MSME units and also extend more financial and technical assistance to the entrepreneurs.

On the other hand, the new Handicrafts Policy will help in the upliftment of handicraft artisans by empowering them. New employment opportunities will also be created in the state. Handicrafts on the verge of extinction will be revived. National-level Handicrafts Week will be organised every year in December and artisan will be felicitated.

Facilities like brand building of handicrafts, assistance for online marketing, social security, loan facility, scholarship, assistance for participation in fairs, expansion of infrastructure facilities in Craft Village, besides setting up handicraft park, museum, design center, sales center will be ensured under the policy.

A state-level monitoring committee headed by State Industries and Commerce Minister will be also be formed to ensure better implementation of the policy.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)