Odisha Government Plans to Establish MSME Parks Across All Districts to Boost Small Enterprises

The Odisha government aims to establish micro, small, and medium enterprises (MSMEs) parks across all 30 districts, according to a senior official. These parks will provide essential infrastructure like land, electricity, and water. Chief Secretary S C Mohapatra shared this during an event, highlighting the state's commitment to supporting MSMEs.

The Odisha Industrial Infrastructure Development Corporation (IDCO) has received over Rs 450 crore to build necessary infrastructure in these districts. This funding aims to facilitate the growth of MSMEs by providing them with the required resources. Mohapatra mentioned this at the conclusion of Propack Odisha 2022 and MSME Odisha 2022, organised by the Odisha Assembly of Small and Medium Enterprises (OASME).

In recent years, there has been a notable increase in financial support for MSMEs from banks, with growth rates between 30-40%. Chief Minister Naveen Patnaik has engaged in discussions with bankers to address entrepreneurs' concerns about bank cooperation. This dialogue aims to enhance financial accessibility for MSMEs.

Odisha Industries Minister P K Deb emphasised the importance of youth taking risks rather than solely relying on government aid. He stated that while Odisha boasts excellent infrastructure for large industries, the focus should be on developing MSMEs. Industry bodies are encouraged to propose policy changes that could drive further industrialisation in the state.

State Finance Secretary Vishal Dev urged banks to ensure that MSMEs have access to necessary funding, as this sector is crucial for economic growth. He acknowledged that these industries often encounter financial challenges and stressed the need for banks to focus on both availability and quality of finance.

Banking Sector's Role

The government is actively organising workshops with banks and trade platforms to improve financial support for MSMEs. Dev highlighted plans to integrate all public sector banks into trade discounting platforms by year-end. This integration is expected to significantly benefit MSMEs by enhancing their access to finance.

Dev also encouraged banks to exceed their lending targets for MSMEs. "Our plan is to add all PSU banks to trade discounting platforms by the year end. It will greatly help MSME," he stated, urging banks to increase their lending beyond set targets.

The state's initiatives reflect a comprehensive approach to fostering a supportive environment for MSMEs, recognising their vital role in economic development. By addressing infrastructure needs and enhancing financial access, Odisha aims to strengthen its industrial landscape.