Punjab Plans Dedicated Agency To Strengthen MSME Ecosystem

(MENAFN- KNN India) Chandigarh, Mar 16 (KNN) The Government of Punjab is planning to establish a dedicated agency, MSME Punjab, to strengthen and modernise the micro, small and medium enterprises sector in the state.

Punjab Industries Minister Sanjeev Arora said MSMEs contribute nearly 25-30 percent to India's GDP and remain a key driver of industrial growth, reported The Times Of India.

Speaking at an MSME session during the Progressive Punjab Investors' Summit in Mohali, the minister noted that the state has a strong base of around 1.6 lakh MSME units.

The proposed MSME Punjab platform aims to create a dynamic and globally competitive ecosystem by improving access to finance, technology, markets and skills for enterprises.

Arora said the state government plans to adopt a cluster-based strategy to drive MSME growth by leveraging economies of scale, shared infrastructure and collective efficiency among enterprises located in the same industrial clusters.

He added that Punjab will optimise existing cluster development schemes while introducing new programmes to address gaps and unmet needs in the sector.

Cluster-based initiatives will focus on strengthening infrastructure, encouraging technology adoption and improving market readiness of MSMEs through collaboration between government departments, industry associations and special purpose vehicles formed by cluster members.

(KNN Bureau)

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