50,000 new MSME units invest Rs 2,300 cr in Odisha: Economic Survey 2018-19

Topics MSME | Economic Survey

The MSME sector has great potential for employment generation in Odisha
As many as 50,158 MSME (micro, small and medium enterprise) units were set up in Odisha with an investment of Rs 2,324.46 crore in 2017-18, according to Economic Survey 2018-19.

Together, these new units have created employment for 147,000 persons.

Altogether 3,91,697 MSMEs have been established in the state, at an investment of Rs 19,068 crore and employment for 15,27,373 persons till March 2019.

“During the last five years, a total of 1,98,736 MSME units were set up and started production with a total investment of Rs 109.75 crore and employment for 628,000 persons in the state,” the survey stated.

The MSME sector has great potential for employment generation in Odisha. It has been a focus area for the state government as indicated in the Industrial Policy Resolution 2015 and MSME Development Policy 2015, it added.

Repairing services accounted for the majority share, with almost 60 per cent share of total MSMEs set up in the state, generating 43.1 per cent of the total employment opportunities created through MSME units.

A possible reason for the high concentration of MSMEs in the repairing services can be attributed to challenges related to literacy, skills, opportunities, marketing and credit facilities, pushing young entrepreneurs to engage themselves in repairing services units, the report said.

Food and Allied sectors followed repairing services in terms of units, investment and job creation.

Maximum number of MSME units came up in Sundargarh district (4,462 units) followed by Cuttack (3,357) and Khurda (3,085) during 2017-18.

To inculcate entreprise culture, the state government has started Entrepreneurship Development Programmes (EDP), which are organised for a period of two weeks by Regional Industries Centres (RICs) and District Industries Centres (DICs) across the state.

“During 2018-19, some 426 micro enterprises established by EDP trainees were generating employment opportunities for 1,740 youth. About 865 sensitisation programmes were organised across the state against proposed 855. The youth participating in these programmes are encouraged to undergo ‘online L&D programme’ for four weeks under the Start-up portal,” the report added.

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