He added that the MSMEs offer more employment opportunities at lower cost of capital. People should notice that this sector creates jobs in rural and backward areas of the country.
The president appreciated the fact that Uttar Pradesh contributes around 44 per cent of the total handicrafts exported from the country. The handicrafts, food processing, engineering goods, carpets, readymade clothes, leather goods and more earn foreign exchange as well as provide employment. Thus, this sector is one of the major factors in the development of Uttar Pradesh.
The president was optimistic that the “One District One Product” scheme will equip the local people with additional skills as well as extend the reach of these products. In the long run, this will result in an improvement in the economic situation of the artisans in Uttar Pradesh.
The president said that the Uttar Pradesh government has set a goal of providing employment to about 25 lakh people in the next five years, with ₹25,000 crores worth of financial assistance. He hoped this will strengthen the inclusive and sustainable development of Uttar Pradesh by creating great employment opportunities for the youth.