UP government to introduce a new MSME policy soon

The micro, small and medium enterprises (MSME) minister Rakesh Sachan said that the Uttar Pradesh government would introduce a new MSME policy shortly. The proposed policy will assist in setting up new industries in the state and promote ease of doing business. Besides, a big loan fair would be organised across Uttar Pradesh on June 30. Loans will be made available to one-lakh artisans, handicraftsman, and small entrepreneurs. Around 96 lakh entrepreneurs have given Rs 2.5 lakh crore loans in the state during the last five years, he said. He said the state government is taking several measures for the convenience and motivation of small entrepreneurs and investors. This comprises no objection certificate (NOC) being issued within 72 hours to entrepreneurs infusing in the state, he said. Co-founder, and CEO of Lucknow-based AMA Herbals, Yawer Ali Shah, said that the use of options like Bio Indigo as a dye for denim would direct to sustainable development and environmental conservation, which would usher in a positive shift within the textile industry. The company has Bio Indigo as a sustainable natural dye alternative. If the firm wants to decrease its carbon footprint, then Bio Indigo has to be encouraged. Instead of utilising a kilogram of synthetic indigo, using Bio Indigo, the carbon footprint can be decreased by up to 10 kilogram with less expense and effort. Bio indigo has been created to meet the challenges due to which the textile industry is encountering increasing pollution levels, he said. He also explained Bio Indigo as a future cash crop. If farmers cultivate Bio Indigo, then their income per acre will be considerably higher. He said the Centre must give subsidies on natural dye to make it cost-effective. This can decrease the carbon footprint impact of textile processing and decrease the import of synthetic indigo from China. It will assist employ large numbers of farmers, he said. Image Source Also read: BII, DFI to invest $75 mn to fund MSME projects in Africa, Asia