BGBS 2018: West Bengal sets record with highest number of MSMEs in India

West Bengal has the highest number of micro, small and medium enterprises (MSMEs) in the country with 52,69,814 units, a […]

   

West Bengal has the highest number of micro, small and medium enterprises (MSMEs) in the country with 52,69,814 units, a development which will boost the state during the Bengal Global Business Summit (BGBS) that started in Kolkata on Tuesday. Bengal accounted for 11.62 per cent of MSMEs, the most among the top 10 states of the country, a senior state MSME official said. The eastern state left behind highly industrial regions like Maharashtra and Gujarat in the race, a data in the 2016-17 MSME ministry annual report showed. “This is a reflection on what the state is doing toward creating businesses, entrepreneurs and job in the state. Growth of MSMEs offer huge scope for large scale industries,” MSME secretary Rajiva Sinha said. Uttar Pradesh ranked second after West Bengal, followed by Maharastra. Gujarat stood eighth with 4.89 per cent of the MSME share, it said. The top 10 states make for 70 per cent of the estimated 4.53 crore MSME units in the country. In 2017, West Bengal also recorded the biggest bank credit flow to the MSME sector in the last five years at USD 15 billion, the report said. The sector is significant as it contributes nearly 6 per cent to the GDP, 33 per cent to manufacturing and 45 per cent to exports, according to government data. West Bengal, currently, tops the list of the department of industrial policy and promotion’s Business Reforms Action Plan (BRAP) 2017, comprising all states and union territories. Reliance Industries’ chairman Mukesh Ambani, ArcelorMittal’s chairman and CEO Lakshmi Mittal, JSW Group’s chief Sajjan Jindal, FMCG major ITC’s CEO Sanjiv Puri, RP Sanjiv Goenka Group’s chairman Sanjiv Goenka and others are expected to attend this year’s BGBS. Moreover, while inviting global investors to make investments in West Bengal, the chief minister Mamata Banerjee said that the state is now an investment destination. She told industrialists at the summit that there is political stability in the state and “if you invest in Bengal, Bengal will give everything. There will be no discrimination”. (With PTI Inputs)





Trending

Micromanagement in the times of crisis

Navigating the new normal: micromanagement in the times of crisis

coronavirus agriculture

New features in e-NAM portal to strengthen agri marketing; farmers remotely can trade the produce

coronavirus real estate

Lockdown Impact: Housing sales to drop by 25-35%; Players to rely more on technology

MSME relief package

Covid-19 Economic Impact: Hit MSMEs, exporters to get relief package

gst collection - coronavirus

GST revenue fell by 4% in March due to COVID-19 lockdown

coronavirus RBI

More measures from RBI to deal with Coronavirus crisis

RAI

RAI requests RBI to implement a three-month moratorium on loans

Coronavirus trade impact

Covid-19 Economic Impact: Government extends foreign trade policy for one year

Coronavirus tax

Covid 19 Economic Impact : Finance Ministry issues Taxation and other Laws Ordinance, 2020

Coronavirus MSME

Covid-19 Economic Impact: Tamil Nadu CM announces concessions for MSME units, farmers

Coronavirus sanitizer industry

Covid-19 Impact: Chemical manufacturers brace for drop in revenues

medical kits

MSME ministry: Inform govt if you are dealing with products required to fight Covid-19