The Meghalaya government is keen on opening food processing hub in the state, said Conrad K Sangma, Chief Minister of Meghalaya at ASSOCHAM event held in New Delhi. During the inaugural session, Conrad K Sangma, Chief Minister of Meghalaya said, the state has invited Micro, Small, Medium enterprises and the financial institutions, leaders to come forward for the industry corridor development in the North Eastern states, said at an ASSOCHAM Innovative Financial Solutions for MSMEs.
There is immense opportunity in state of Meghalaya in the following sectors like food processing, knitting, tailoring and embroidery, carpet weaving, carpentry and furniture making, leather, blacksmith and fabrication works etc, said Conrad. The ASSOCHAM awarded 9 Banks & 14 MSMEs Units in different categories like SME of the Year, Fair Business Practices, Most promising Brands, Women Entrepreneur, CSR Activates, Best SME Bank, Best SME Lending, Micro Lending etc.
During the summit ASSOCHAM-Resurgent India jointly release study says, India’s labour force is expected to touch 160-170 million by 2020, based on various factors which includes population growth rate, labour force participation, education enrolment at higher levels etc. India has emerged as the fastest growing major economy in the world as per the Central Statistics Organisation (CSO) and International Monetary Fund (IMF) and is expected to be one of top three economic powers of the world over the next 10-15 years, backed by its strong democracy and partnerships.
India’s GDP is estimated to have increased 6.6 per cent in 2017-18 and expected to grow 7.3% in 2018-19, reveals the ASSOCHAM-Resurgent joint study. MSME has played a prominent role in the development of the country in terms of creating employment opportunities.
MSME has been creating 11.10 crore jobs (360.41 lakh in manufacturing, 387.18 lakh in trade and 362.82 lakh in other services and 0.07 lakh in Non-captive Electricity Generation and Transmission) in the rural and the urban areas across the country, says joint report conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) jointly with Resurgent India.