For India’s youth who are unemployed, the MSME sector has created a web of opportunities. The MSME Registration has grown significantly as a result of how various Indian states have reacted to this revolutionary development, assisting the economy’s rapid expansion. Nearly all states are experiencing the growing trend of MSMEs. The state of Assam, known for its blue hills, has benefited the most from this increasing trend. As a result of the growth of MSMEs, Assam’s economy has seen a substantial improvement. The chances it offers the populace also contribute to this. The importance of the MSME sector has increased dramatically in the modern period. Urbanization in Assam’s several underdeveloped cities and towns has taken on a new form as a result.
The South-East region can be accessed through Assam, which is at a prime location. Additionally, the business environment there is favorable. They have a wealth of mineral-rich deposits and agricultural infrastructure, therefore resources are plentiful. The state government has also launched a number of programmes and efforts to support the MSME sector in the state. For starting small and medium-sized businesses, Assam has an advantage over other states because of these.
Assam’s MSME Industry
The MSME sector has contributed 8% growth to the Indian GDP, which gives states a reason to encourage more citizens to participate in a variety of economic sectors. The number of micro, small, and medium-sized businesses in Assam is at an all-time high. Assam, which boasts an astounding 66,854 industries, receives finance and investments from numerous reputable businesses like ONGC. 88% of these industries are micro, and the remaining 11.5–12% are small and medium-sized businesses.There are now more industries due to improved infrastructure and financial availability. Due to the ease with which areas and hubs can be connected, the accessibility of raw materials, and the growing consumer base, businesses in Assam have a huge potential for growth. The expansion of MSMEs in Assam is anticipated thanks to programmes that promote skill development and the creation of employment possibilities.
State Government Programmes And Initiatives
A strong indicator of Assam’s future growth is the rising number of MSMEs. The Assam government’s contribution to this triumph ranks among its most important components. To improve the MSMEs sector, the state government has adopted a number of initiatives and programmes. The following lists the most effective programmes and projects.
The Boneej scheme, developed by the government of Assam, intends to assist the MSME enterprises and businesses founded in rural parts of the state. These sectors are classified as conventional and micro in the state.
In order to boost industrial progress, it works through aiding and growing the various industries. The tier-2 and tier-3 cities’ weakest areas are the main focus. Additionally, it works to promote job growth. The ease of doing business index will consequently increase. The government supplies various industries in the regions with raw materials and basic services.
The local industry in the state’s rural districts should have been operational for at least two years. In the same rural location, the manufacturing process should also take place. With no minimum educational requirements, the applicant should be between the ages of 18 and 50. The industries needed to have taken out a loan for at least 1 lakh to qualify for financial aid. In Assam, there are numerous industries located in rural areas. These include bell meta, jute, jewelry, pottery, blacksmith, sitalpati, musk, and japi in addition to candles, culinary items like papad, pyrotechnics, and other products.
Scheme for Transport Subsidies
To ensure a continuous supply of raw materials and finished commodities, this plan helps connect Assam’s many areas. It links several inaccessible locations where new industries and businesses can be established. Under this plan, a person is compensated for losses sustained during the transportation of goods because of mountainous terrain or other unsuitable terrain.
The Mukhyamantri Krishi Sa-Sajuli Yojna
The CM Farm Tool Scheme was created, as its name implies, to give farmers financial support and encourage them to increase their output. Each farmer in the state of Assam receives Rs. 5000 under this programme from the state government. Over 5 lakh families receive assistance through this financial programme. Farmers should be at least 21 years of age. In addition to normal farmers, the programme also accepts applications from sharecroppers or tenant farmers with at least 1 acre of cultivable land. To obtain rewards under the programme, these farmers must have a savings account.
To support and equitably develop the MSME sector in the state of Assam, the state of Assam teamed up with SIDBI (Small Industries Development Bank of India). The following three areas are to be developed in Assam as a result of the partnership:
➨growth of clusters and means of subsistence
➨promoting a business
At the event organized to announce the partnership, it was emphasized how important it is for state-level organizations to take the initiative to manage diverse businesses and industries. The emphasis was on providing the resources needed to support the state’s starting status. A large amount of discussion about the credit guarantee system was also presented at the session.
Assam Chah Bagichar Dhan Puraskar Mela Scheme
This scheme is focused on helping the Assam tea garden workers by providing them better access to the credit system. It also involves taking the farmers a step ahead by facilitating cashless transactions. The Assam government provides every tea farmer Rs. 2500 directly in their savings bank account.
PMRY, or Pradhan Mantri Rojgar Yojana
The administration has paid particular attention to sectors like agriculture, pig farming, poultry farming, and fisheries. The overall project cost must be at least 2 lakhs to be eligible for rewards under the scheme. The projects are eligible for a 15% subsidy up to a maximum of Rs. 15,000 per project.
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Policy for Promoting Industrial and Investment in the North-East (NEIIPP)
This Indian government initiative intends to hasten industrialization and state development in various northeastern regions. The government has offered a number of subsidies for easy investment and incentives for setting up various units, such as biotechnology industrial units, etc., in order to accomplish this goal. Additionally, it works in conjunction with the transportation subsidy programme to attract additional investors to the northeastern regions.
The Government of Assam’s Industries and Commerce Department announced a programme to encourage young people to pursue entrepreneurship and start enterprises. This plan entails going on field trips to different businesses, associations, factories, etc. Students gain practical experience with MSMEs thanks to these visits. As a result, individuals demonstrate interest in and passion for launching an MSME business.
Assam Bikash Programme
Through this government effort, Assam assists educated unemployed individuals find work prospects in their areas of interest. The tourist department is a key component of the programme since it provides financial support to young people interested in working in restaurants, dhabas, transportation, and other tourism-related businesses. In addition to these notable programmes, the government has also launched other noteworthy initiatives, such as the SVAYEM Scheme for Assam Youth Empowerment, Assam Farmer’s Credit Subsidy Scheme (AFCSS), Worker Compensation Programme for Expectant Women in Tea Gardens, Na-Bowari Programme, Assam Affordable Nutrition & Nourishment Assistance Yojana (Anna Scheme), Startup Assam, Arundhati Gold Yojana, etc.
Vision of the State Government for the Development of MSME
➨To develop the MSME sector in the state, the Assam government has devised a number of schemes. The state wants to expand the MSME ecosystem with its expansive vision. The vision of the state government is highlighted by the following points.
➨The goal of the government is to create a user-friendly infrastructure that will help promote new business owners and entrepreneurs.
It also intends to give diverse businesses like bamboo, japi, etc. all the technological, financial, and managerial help or assistance they may possibly need.
➨The major goal is to increase people’s confidence in various MSME industries. In addition to this, there are numerous more industries that need sufficient funding. The administration wants to concentrate on these units as well.
➨Building economic infrastructure for improved commodities and service transport is another aspect of the goal.
➨Last but not least, it attempts to increase exports and a higher level of living through coordinating various industries.