The Vision of the MSME Policy of the Rajasthan state is to bring about encouragement to support the setting up and the operations of the MSMEs in the State. The vision is also aimed at the creation of a conducive environment that can help the MSMEs to achieve the globally competitive market.
MSMEs (Micro, Small and Medium Enterprises) cater the specific needs of the Indian economy in terms of two major roles as: it acts as a supporting base for the various large industries and it also acts as a stand-alone provider of the products and services in the country. In fact, the MSMEs form the backbone of the industrial as well as the economical sector of the country and accounts to being the largest share of providing employment in the country.
Rajasthan is the largest state in India. It is a relatively politically stable and peaceful state that offers a unique set of attractive opportunities for profitable investment in various sectors. The State is gifted with several rich minerals, physical resources, world-renowned handicrafts, the surplus of agricultural growth, and outstanding manpower and skills. These factors are ample to provide great opportunities for manufacturing and the processing activities along with the optimum services in the MSME sector. The MSME sector plays a major role in the economic development of the State in terms of value addition, equal distribution of income, employment generation, increased export earnings and removal of the regional disparities.
Approach and Strategy
To bring about the effective implementation of the rapid growth and development of the MSMEs in the State, the MSME Policy of the State includes the following strategies and methods:
- Streamlining the rules, regulations and procedures for the ease of doing businesses in the State.
- Empowering the Single Window System to make the MSMEs more effective under the provisions of the Rajasthan Enterprises Single Window Enabling and Clearance Act, 2011.
- Creation of several new industrial areas in the State.
- Providing marketing support to the MSMEs.
- Encouragement of MSME Clusters and private industrial parks.
- Empowering the MSME Government support agencies.
- Recognition and development of the MSMEs for adopting the best practices.
- Focusing on the skill development programmes for providing an adequate work force to the MSMEs.
- Setting up of the facilitation mechanisms for providing guidance to the new investors and providing support to the existing ones.
- Provision of competitive fiscal concessions and incentives to attract investment.
- Time bound conversion and allotment of land for the industrial development.
- Facilitating the MSMEs for raising and obtaining credit or capital.
- Assisting the unemployed youth for the setting up of the startups and the MSMEs.
- Promotion of the start-ups and the new entrepreneurs by the setting up of advanced facilities and the incubation centers.
- Encouraging the quality improvement along with Research and Development.
- Promotion of the adoption of practices for environment protection and water along with energy conservation.
- Assisting the sick units in revival efforts
With such lucrative regulations for the strengthening of the MSMEs under the Rajasthan MSME Policy, we might look forward to the rapid development of the MSMEs in this state as well as in the nation.