Union Minister Announces Rs 220 Crore Boost for Jharkhand's MSME Sector

Union Minister Jitan Ram Manjhi has pledged Rs 220 crore to develop the MSME sector in Jharkhand, including new clusters and technology centres. The initiative aims to enhance employment and balance regional industrial development, especially in eastern India.

Union Minister Jitan Ram Manjhi announced on Wednesday a substantial allocation of Rs 220 crore for the development of the Micro, Small, and Medium Enterprises (MSME) sector in Jharkhand.

The funds include Rs 120 crore for establishing four new clusters and another Rs 30 crore for setting up three additional technology centres in the state, Manjhi revealed at the MSME conclave in Ranchi.

Manjhi underscored the sector's critical role in employment, currently engaging 20.56 crore individuals, with ambitions to increase this to 40 crore. He also highlighted regional disparities, with a focus on balancing development across eastern and northern India to boost the sector's contribution to GDP from 30% to a potential 60%.

(With inputs from agencies.)