The MSME sector has the potential to spread industrial growth across the country and can be a major partner in the process of inclusive growth. The larger players amongst the MSME space also are in a unique position to become global players attracting partners with technology and funds. The Policy framework must encourage this as it will also help to create employment on a massive scale.
The Northern region comprises some of the rapidly growing states and contributes more than one-fourth to the National GDP. There is no doubt that the Indian MSME sector is poised for rapid growth and integration with major global value chains. Timely policy interventions and due support are of utmost importance for making MSMEs globally competitive.
Continuing with our efforts to strengthen and service this very important stakeholder of Indian economy and enabling them to graduate to the next level, CII has been engaging with State Governments to come out with exclusive policies for MSMEs.
This paper has been formulated by taking into account some of the progressive State MSME policies from across the country. It aims to serve as a reference point for the Northern Region states while they formulate/amend their respective State MSME Policies.