Govt to Allocate Spaces for MSMEs in New Townships to Boost Industrial Growth: Piyush Goyal

Shri Goyal acknowledged that MSMEs form the backbone of industrial ecosystems and are pivotal to India’s economic growth.

Union Minister of Commerce & Industry, Shri Piyush Goyal, announced the government’s intention to reserve areas for Micro, Small, and Medium Enterprises (MSMEs) within the 20 townships being developed nationwide. Speaking at the Assocham: Bharat @100 Summit in New Delhi, he emphasized the critical role of MSMEs in driving industrial growth and supporting large businesses. The Minister expressed plans to collaborate with state governments to ensure that MSMEs receive concessional land within industrial parks and townships to foster their development. Key Highlights of the Address:

Empowering MSMEs

Shri Goyal acknowledged that MSMEs form the backbone of industrial ecosystems and are pivotal to India’s economic growth. He pledged to advocate for state-level cooperation to provide opportunities for MSMEs, including:

Allocation of spaces in industrial parks and townships.

Land at concessional rates to facilitate business expansion.

Streamlined processes to promote ease of doing business.

Ease of Doing Business

Shri Goyal highlighted recent government initiatives to simplify business operations for MSMEs:

• The passage of the Boilers Bill, 2024, replacing a colonial-era act to reduce compliance burdens.
• Comprehensive efforts to decriminalize laws and improve administrative efficiency.

Circular Economy and Sustainability

Discussing India’s approach to sustainable development, Shri Goyal emphasized:

• India’s leadership in circular economy practices, long before many developed nations.
• The importance of avoiding wasteful consumption to achieve sustainable growth.
• A call to action for developed nations to acknowledge their historical contributions to environmental degradation and take responsibility.

Skill Development and Entrepreneurship

The Minister underscored the government’s commitment to skill development through a ₹2 lakh crore outlay for training programs. He proposed a Public-Private-Academia partnership to advance skill-building and urged academic institutions to incorporate entrepreneurship into their curricula.

Fostering Entrepreneurial Spirit

Shri Goyal appealed to industry leaders to:

• Encourage risk-taking and bold decision-making among India’s youth.
• Shift the mindset from job-seeking to entrepreneurship, fostering innovation and business creation.
• Instill a sense of national pride and commitment to excellence in all professions.

Inclusivity in Welfare Schemes

The Minister reiterated the government’s approach to inclusive welfare programs in areas like food security, water, electricity, and digital connectivity, noting that these services are provided without discrimination based on religion, caste, or creed.

Future of Industrial Growth

The announcement aligns with Prime Minister Narendra Modi’s Panch Pran vision, aiming for a Developed India by 2047. Shri Goyal emphasized the importance of collaborative efforts between governments, businesses, and academia to drive innovation, reduce corruption, and position India as a global industrial leader.

Summit Takeaways

The Bharat @100 Summit highlighted India’s aspirations for sustainable and inclusive growth. Shri Goyal’s address outlined a roadmap for leveraging MSMEs and youth entrepreneurship to achieve the nation’s ambitious economic and environmental goals.