25 Thousand MSME Industries to be Set Up in Uttarakhand | 04 Apr 2023

Why in News?

According to information received from the media on 2 April 2023, to promote industrial development and create new employment opportunities in Uttarakhand, the state government has prepared a five-year roadmap, under which 25 thousand micro, small and medium enterprises (MSMEs) are targeted to be established.

Key Points

• For an empowered Uttarakhand, American company Mackenzie Global has prepared a roadmap for industrial development in the state. 7500 crore will be invested in the state under the scheme. With this, a target has been set to provide employment to one lakh people.
• To promote investment, the government's focus will be on ease of doing business, infrastructure development for investment at the district level, cooperation in marketing and branding and encouragement to investors.
• The subsidy has been recommended by McKenzie Global as an incentive to promote investment. In this, it has been recommended to give subsidies up to 75 percent (maximum 75 lakhs), 40 percent (maximum 4 crore) to small-scale industries, and 20 percent (maximum 10 crores) to medium industries to be set up in hilly areas.
• The Amritsar-Kolkata Industrial Corridor industrial area is planned to be developed on a thousand acres of land near Prayag Farm in Udham Singh Nagar district of the state which is very close to Pantnagar and Rudrapur. Land will be available for setting up big industries here.