MP doles out over Rs 200 Crore to boost MSMEs, start-ups

Bhopal, Oct 13 (IANS) In a major push to strengthen entrepreneurship and employment, the Madhya Pradesh government has doled out over Rs 200 crore in incentives to micro, small, and medium enterprises (MSMEs) and startups across the state.

The announcement was made during a state-level MSME conference held in Bhopal on Monday, where the government reaffirmed its commitment to building a self-reliant economy powered by youth-led innovation.

A total of Rs 197 crore was allocated to 700 MSME units, while 63 startups received Rs 1 crore in support.

Additionally, land allotment letters were handed over to 237 entrepreneurs to facilitate industrial establishment.

Under the Mukhyamantri Udyam Kranti Yojana, bank loans exceeding Rs 347 crore were sanctioned to 5,084 young entrepreneurs, enabling them to launch and expand their ventures, the Chief Minister Mohan Yadav said while addressing a gathering here on Monday.

He urged entrepreneurs to give a push to local procurement while manufacturing new products. The state’s Startup Policy 2025 continues to offer Rs 10,000 per month for one year to approved startups, with over 6,000 currently active in Madhya Pradesh - 47 per cent of which are led by women, he said.

The state boasts 102 incubation centres that help transform ideas into viable businesses. Madhya Pradesh also earned a “Leader” rank in the Startup India Rankings 2022, reflecting its growing reputation as a hub for innovation, the Chief Minister further said.

To further industrial growth, more than 800 plots have been allotted this year, with 19 new industrial areas under development and 10 more proposed.

The government has also introduced 18 new industry-related policies, offering a flat 50 per cent incentive for investments up to Rs 83 crore.

In 2024-25 alone, financial assistance worth Rs 2,162 crore was extended to over 2,500 units, the chief minister said. Local products such as Maheshwari sarees, Sharbati wheat, Basmati rice, zari work, Jhabua dolls, and Dindori millets are being promoted as potential global brands, aligning with the “Vocal for Local” initiative, he said.

The government’s efforts aim to transform youth from job seekers into job creators, making MSMEs not just economic engines but symbols of dignity, hope, and self-reliance.

With simplified digital processes and collateral-free loans up to Rs 50 lakh, Madhya Pradesh is positioning itself as a model state for inclusive industrial development, the Chief Minister said.

--IANS

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