Investment scheme to promote MSMEs in Madhya Pradesh: CM

Madhya Pradesh Investment Promotion Scheme will be implemented for micro, small and medium industries in the state, said chief minister Shivraj Singh Chouhan at the convention of youth entrepreneurs on Wednesday.

Chouhan also announced that 90% concession will be given in prescribed rates while allotting plot up to 5,000 square feet to MSMEs.

Commerce and industries minister Yashodhara Raje Scindia and Snapdeal chief executive officer (CEO) Kunal Bahal were specially present on the occasion.

About 900 entrepreneurs, who established their business under the Mukhyamantri Yuva Udyami Yojana, participated in the convention.

The chief minister said that a new Madhya Pradesh will be carved out by laying a network of small and cottage industries in the state.

For developing clusters of MSMEs, 15 industrial areas are being developed.

Chouhan informed that a venture capital fund of `100 crore has been instituted to help small entrepreneurs of start-up companies.

"In 2014-15, 995 entrepreneurs have been raised in the state. They should keep upgrading their techniques in their respective fields," he added.

Snapdeal chief executive officer (CEO) Bahal told young entrepreneurs that Madhya Pradesh has given good opportunity to them through the scheme and they should avail its benefit.

Narrating success story of Snapdeal company’s growth, he said, “I got success after failing for five times. It was my sixth business model which succeeded, so young entreprenuer shouldn’t give up after successive failure.”

He also said that he would provide online platform to young entrepreneurs of Madhya Pradesh to sell their product.

Principal secretary, commerce and industries, Mohammad Suleman informed about achievements of the scheme during one year.

On the occasion, district collectors of Neemuch, Ashok Nagar, Narsinghpur, Burhanpur and Jabalpur districts received award for excellent performance under the Mukhyamantri Yuva Udyami Yojana.

Mrignayani ties up with Snapdeal

Laghu Udyog Nigam, a subsidiary of the state government, on Wednesday signed a memorandum of understanding (MoU) with popular m-commerce company Snapdeal.

Snapdeal chief executive officer (CEO) Kunal Bahal said tie-up with Snapdeal aims to eliminate middlemen and directly pass the benefits to the weavers and handicraftsmen.

On the other hand, buyers not only from the state, but across the nation would have access to brand Mrignayani. Buyers will get the facility to purchase through the portal 24x7.