With the gift of the Union Budget, more than 30 thousand industrial units in Ghaziabad are expected to gain momentum.
Jagran correspondent, Ghaziabad. MSMEs were given special priority in the general budget presented by Union Finance Minister Nirmala Sitharaman. A development fund of Rs 10,000 crore has been announced for MSMEs in the budget, which has boosted the appetite of entrepreneurs. This gift in the budget is expected to give impetus to more than 30 thousand industrial units in the district. By strengthening industries in technology and infrastructure, production will increase and new employment opportunities will be created.
Top-up of Rs 2,000 crore to ensure risk capital
More than 28 industrial areas are developed in the industrial city Ghaziabad. The MSME units operating here had been demanding financial support, modern technology and better infrastructure facilities for a long time. The development fund announced in the budget is being considered a big step in this direction.
An additional top-up of Rs 2,000 crore has also been provided in the budget to ensure risk capital for micro enterprises. With the increase in industrial activities, employment opportunities will also increase in Ghaziabad. With the expansion of industries, local youth will be able to get employment in their own district. Besides, the inclination of new investors will also move towards Ghaziabad.
Exports worth more than 22 thousand crores
The industries in the district export different products worth more than Rs 22 thousand crores to the world every year. Apart from engineering goods, textiles, metal products and home furnishing, pharmaceuticals and electronic products have a major contribution in this. The district is exporting to countries like Israel, Singapore, Africa, Middle East, America, United Arab Emirates, Canada, France, UK, Turkey, Bangladesh etc.
"The main objective of the budget is to create employment as well as empower small and medium industries. This fund will be available to entrepreneurs in the form of incentives and subsidies, enabling them to expand their industries."
"This development fund will provide equity or equity-like support to those MSMEs which have the potential to grow but are hampered by lack of capital. The industry will move forward with modern machinery by moving out of the old technology."
"With this fund, old and dilapidated industrial clusters will be revived with modern infrastructure and new technology. This will ease MSMEs' access to credit and will also boost exports."
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