Manipur Chief Minister N Biren Singh has said that Manipur has topped the list of Micro, Small and Medium Enterprise (MSME) business registration among the Northeastern states and 50 per cent of the businesses is owned by women.
The Manipur CM has attributed the rapid growth of businesses in Manipur to Government’s aggressive push for business and entrepreneurship under the Start-up scheme.
“Manipur Start-up policy has supported more than 100 new businesses during the last one and half years. And large number of innovative business are growing very fast”, he said.
Singh pointed out that as per the Annual Report (2018-19) Ministry of MSME, Manipur alone has 12,438 MSME businesses, the highest in the northeastern region during the period from 2015 to 2019. The figure is higher than the remaining northeastern states combined, which is 6,696 businesses, he added.
Altogether 68.25 lakh MSME businesses filed Udyog Aadhar Memorandum (UAM) in the entire country during the period.
He also pointed out that Manipur also topped in women ownership of MSME businesses.
In all 50 per cent of the MSME businesses in the state is owned by women when compared to national figure which is 20 per cent, he added.
He further asserted that Manipur’s share in MSME businesses is also higher than Manipur’s share in national population. “Manipur’s share in national population is 0.2 per cent while Manipur share in MSME businesses is 0.3 per cent,” he said.
Elaborating on the growth rate, Singh claimed that as per the data of the state taxation department, the MSME businesses grew from 653 to 16,381 of which 10,500 were created during the last two and a half years.
The Chief Minister claimed that the rapid growth in the MSME has boosted the state GDP which currently stands at 8 per cent.
He further informed that the state cabinet will soon approve the Stand-up policy, a scheme under the start for economic boom. Stand-up policy is aimed at improving the economic condition of the minority communities of the state.