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Haryana to allocate around Rs 100 cr for fostering entrepreneurship, innovation: Chautala

Haryana to allocate around Rs 100 cr for fostering entrepreneurship, innovation: Chautala


Haryana to allocate around Rs 100 cr for fostering entrepreneurship, innovation: Chautala

The Haryana government will allocate around Rs 100 crore in the upcoming state budget for setting up incubation centres, loan assistance and incentives for startups with a view to fostering entrepreneurship and promoting balanced regional growth in the state, state Deputy chief minister Dushyant Chautala said on Friday.

Addressing virtually the third ASSOCHAM Haryana MSME Samvaad here, Chautala said that the state government’s vision is to build Haryana as the competitive and most favoured investment destination. “Haryana MSME sector looks to attract investment of over Rs 1 lakh crore and generate 5 lakh jobs in the state and to reach this target and lay the foundation of ‘Aatmanirbhar Bharat’,” he said. The Micro, Small, and Medium Enterprises (MSME) sector in Haryana has witnessed remarkable growth, with a staggering 2,81,024 new MSME manufacturing units registered in the past five years alone.

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“This has created more than 15 lakh jobs and has propelled Haryana to the top ranking among all northern states, contributing significantly to the state’s GDP and employment,” he pointed out. Chautala explained that in line with the state’s focus on bolstering the MSME ecosystem, the PADMA scheme, or the Programme to Accelerate Development for MSME Advancement, was introduced. This comprehensive programme aims to establish dynamic and self-sustainable industrial infrastructure at the cluster level, facilitating local product promotion and generating employment opportunities for the youth and Antyodaya families.

The PADMA scheme includes a venture capital fund of Rs 200 crore to support the growth of MSMEs, encourage entrepreneurship, and foster start-up development, he said. “The PMU will streamline processes, provide technical assistance, facilitate access to finance, and promote entrepreneurship, catalysing the growth of MSMEs and contributing to our state’s economic development and prosperity,” he added. Vijay Sharma, Chairman, ASSOCHAM Haryana Development Council, said that Haryana has a huge potential to become the hub of MSMEs not only in India but at the global level.

“Today’s deliberations, which focussed on making Haryana a preferred investment destination, strengthening digital ecosystem and unlocking new schemes for MSMEs in the state, would go a long way in scaling the greater heights of success by MSMEs in the state,” he said.

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  1. Pingback: WeVOIS, a Waste Management Startup, Raises $4 Million in Pre-Series A Funding for Expansion

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