GUWAHATI, Jan 11 - With the aim to showcase the core potential for building a robust and vibrant MSME sector in the Northeast, Governor Prof Jagdish Mukhi inaugurated North East MSME Conclave at NEDFi House here today.
Lauding the Confederation of Indian Industries (CII) for organising the meet, Prof Mukhi said that the Micro, Small & Medium Enterprises (MSME) sector is a critical component of India’s growth story, making significant contributions to GDP, employment and exports.
The total contribution of MSMEs to the GDP is around 38 per cent. With around 95 per cent of all industrial units forming a part of this sector, it forms a cornerstone for economic prosperity, he added.
Prof Mukhi said that the MSME sector has been able to maintain an annual growth rate of over 10 per cent for almost the entire decade and has grown faster than the overall industry in the country, which makes a compelling case for concerted policy interventions to build an enabling ecosystem for the vast multitude of MSMEs to move up the value chain.
“India can develop only when we develop the Northeast and it is also a top agenda of the Central government to develop the region. Guwahati, which is acknowledged as the Gateway to South East Asian countries, is a nerve-centre for the success of the government’s ‘Act East Policy’. The Centre has put special emphasis on the development of MSMEs in Assam to bring in economic prosperity,” he said.
The Governor added that with the vast stretches of fertile land, rich expanse of forests and substantial mineral and hydrocarbon deposits, the Northeast is potentially one of the richest geographical areas of the country and to reap dividends of the richness of Assam, the State government has come up with a new policy on tax incentives for setting up industries and tourism units, IT policy, biotech policy, start up policy, sugar policy, solar energy policy, etc.