Business Today
Loading...

UP MSMEs to receive up to Rs 5 lakh aid under new start-up policy 2020

UP Additional Chief Secretary (Electronics and Information Technology), Alok Kumar said the Department of IT & Electronics is working hand in hand with SIDBI to facilitate venture capital funding for new start-ups and MSMEs

twitter-logoPTI | August 19, 2020 | Updated 08:43 IST
UP MSMEs to receive up to Rs 5 lakh aid under new start-up policy 2020
Under the new start-up policy, there is a window of upto Rs 5 lakh as marketing assistance for MSMEs

MSMEs in Uttar Pradesh will get marketing assistance of up to Rs five lakh under a new start-up policy, a senior official said Tuesday. New start-up policy 2020, aimed at extending support and encouragement to start-ups and incubation centres in Uttar Pradesh has been notified, said Additional Chief Secretary (Electronics and Information Technology) Alok Kumar.

"Under the new policy, there is a window of up to Rs 5 lakh as marketing assistance to MSMEs," he added. Mr Kumar gave this information while addressing a virtual conference on "Role of Information Technology in transforming MSMEs' future during COVID-19", a PHDCCI release said.

The conference had been organized by the Uttar Pradesh Chapter of PHD Chamber of Commerce and Industry. Alok Kumar also said the Department of IT & Electronics is working hand in hand with SIDBI to facilitate venture capital funding for new start-ups and MSMEs.

Also read: Nitin Gadkari lays foundation stones for 13 highway projects in Manipur virtually

Focusing on the important role that IT is playing these days, Additional Chief Secretary, Deptt of MSME, Khadi & Village Industries, Navneet Sehgal said with the help of information technology now, almost all District Industries Centre (DICs) are online.

He said most of the government schemes for the MSMEs and other units are posted online now and can be accessed and availed online. Both of the top bureaucrats also thanked the PHDCCI for taking the initiative of discussing the importance of information technology which has been playing a pivotal role in almost all domains amid the pandemic.

In his keynote address, UP IT and Electronics Minister Ajit Singh Pal said with the optimum use of Information Technology, MSMEs will transform the nation into a new India where IT will play an important role that will lead the country as a major player in the global economic competition.

Also read: Amazon, Flipkart see increased participation of small town SMEs in 1st sale post lockdown

In his special address, PHDCCI secretary-general Saurabh Sanyal said the trade body has a huge membership base of more than 1,50,000 members with 70 percent of them being MSMEs.

With over 115 years of existence, the Chamber is committed to working hand in hand with the government for the betterment of these industries to turn India into a favoured and ideal destination for industrialisation and investment, said Mr Sanyal.

Also read: Govt to offer Rs 4.30 crore to start-ups, students under Swadeshi Microprocessor Challenge

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close