May 24, 2024

The Bihar

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BIA initiates steps for growth of MSMEs

2 min read

Patna: In its bid to prop up growth of local micro, small and medium enterprises (MSMEs) in the state, Bihar Industries Association (BIA) has planned measures for establishment of new industries, extension of existing ones, management of finance and creation of a pool of management executives and workmen to run the industries efficiently in the new year.

BIA president K P S Kesri said that local MSMEs would have to stand on their own feet by availing the facilities provided in the new industrial policy and some other policies of the state government, and quality manpower management. But the state government, being a large purchaser, would have to bring out an effective purchase preference policy for the local MSMEs to provide them level playing field, he said.

Kesri said the BIA is identifying 100 industrial units for their extension and capacity addition. The BIA would submit a proposal to the state government to give impetus to their growth The new industrial policy of the state government, which became effective from July 1, 2011, provides for subsidy on purchase of machinery needed for extension of the existing industries.

Industrial Development Commissioner C K Mishra had recently said that subsidies could not be given to industries as they did not demand it. Nevertheless, recently some food processing industries were given subsidy under the Food Processing Policy of the state government for establishing their units, he said.

Asked about measures that should be taken for accelerating the development of manufacturing industries in the state, Kesri emphasized on manpower management for efficient running of industries. For this, the BIA will soon sign a memorandum of understanding (MoU) with a national-level human resource development agency for providing 3-6 months rigorous training in industrial management skill to youths for handling the small and mid-sized industries.

The BIA is also interacting with a national-level private equity fund management agency for managing equity capital for establishment of new industries and extension of the existing ones. One such equity fund management agency had already held a meeting with BIA, he said.

BIA, with the National Institute of Design (NID), Ahmedabad, recently organized a workshop on product design for local entrepreneurs. NID will continue its product design training to local entrepreneurs under the national manufacturing competitive programme of the Union ministry of MSME, he added.

Former BIA president K P Jhunjhunwala said that investment climate in Bihar had improved, but in the new year government’s initiative for industrial development would be crucial.

Courtesy: TNN

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