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Jharkhand Unveils Comprehensive MSME Policy: A Holistic Approach to Growth

The proposed policy envisions the establishment of a dedicated Directorate of MSME at the state level to oversee the implementation of state and central government MSME schemes and programs. Additionally, a District MSME Centre (DMC) is planned for each district, initially utilizing existing District Industry Centres (DICs), to provide essential services and support. These include Udyam registration, single-window clearances, and assistance for the expansion of manufacturing and service MSMEs in both rural and urban areas.

Simplified Regulatory Landscape: Jharkhand MSME Special Concession Act 2023

To ease the regulatory burden on MSMEs, the policy proposes the introduction of the Jharkhand MSME Special Concession Act 2023. This act aims to grant exemptions to MSMEs from various approvals and inspections, streamlining the process of establishment and operation of enterprises.

Incentives to Propel Growth: Interest Subsidy, Fee Reimbursements, and Financial Assistance

The draft policy outlines an array of incentives, including a 5% per annum interest subsidy for new MSMEs on timely loan repayments. Other incentives include reimbursement of stamp duty and registration fees, assistance for quality certification, financial support for patent registration, reimbursement of electricity duty, and support for obtaining trademark registration.

Skill Development and Technology Adoption: Cluster-Based Development and Training Initiatives

Recognizing the importance of skill development and technology adoption, the policy emphasizes cluster-based development of MSMEs. It proposes regular training and workshops at the district level, focusing on technology usage and introducing new technologies in the MSME sector. MSMEs are encouraged to provide job-specific technical training and participate in re-skilling programs in collaboration with local educational institutions.

The comprehensive policy aims to position Jharkhand’s MSMEs on a level playing field, fostering individual business integrity while providing the necessary support for collective growth.


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