Jharkhand: MSME Minister announces Rs 2.2 Bn development package

17 Sep 2024 CW Team

Union Minister for Micro, Small and Medium Enterprises (MSME), Jitan Ram Manjhi, unveiled a substantial development package for Jharkhand's MSME sector on Wednesday. Speaking at an MSME conclave in Ranchi, Manjhi announced an allocation of Rs 2.2 billion to bolster the state's small business landscape.

The package includes Rs 1.2 billion for the establishment of four new industrial clusters and Rs 300 million for three additional technology centres in Jharkhand. This initiative aims to stimulate growth in the eastern region's MSME sector, which has historically lagged behind its western and southern counterparts.

Manjhi emphasised the MSME sector's significant role in job creation, noting that it currently employs 205.6 million people nationwide. The minister expressed an ambitious goal to double this figure to 400 million, underlining the sector's potential for further expansion.

Highlighting the sector's economic impact, Manjhi stated that MSMEs contribute approximately 30 per cent to India's GDP. However, he pointed out that this contribution could potentially reach 60 per cent if development were more evenly distributed across the country.

The minister acknowledged the current geographic disparity in MSME development, with concentration primarily in western and southern India.

"We want to break the unequal distribution and spread its net in eastern and northern regions of the country," Manjhi said, indicating a strategic shift towards more balanced regional growth. This announcement reflects the government's commitment to fostering MSME development in underserved regions, potentially paving the way for increased economic activity and job creation in states like Jharkhand.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..