Patna:The Bihar government is set to introduce a new policy for micro, small and medium enterprises (MSMEs) to support the growth of small businesses and encourage entrepreneurship across the state.
Officials said the policy is being designed to provide financial assistance, facilitate easier access to loans and help enterprises adopt modern technology. It is also expected to improve market access for small businesses.
Over Eight Lakh Units Expected to Benefit
According to government estimates, around eight lakh MSME units are currently operating in Bihar.
In addition, more than 9,000 new entrepreneurs are being supported each year under the Chief Minister Entrepreneur Scheme. Agriculture-based industries, food processing, textiles, handloom and dairy units account for a significant share of the state’s MSME sector.
Addressing Key Challenges
Industry department officials said the new policy is intended to address challenges faced by small enterprises, including limited access to capital, technological constraints and market competition.
While sector-specific policies are already in place for certain industries, many small businesses have not been able to access adequate government support. The proposed MSME policy seeks to create a broader framework to assist such enterprises.
Focus on Central Government Schemes
The state government also aims to increase the utilisation of central government MSME schemes.
The Centre offers various forms of support, including capital subsidies and loans at concessional interest rates. Several states have adopted dedicated MSME policies to complement these programmes, and Bihar is now moving in a similar direction.
Sectors Likely to Receive Support
The proposed policy is expected to benefit a wide range of industries, including:
- Food processing units
- Flour, gram flour and sattu mills
- Spice processing businesses
- Bakeries
- Animal feed and poultry feed manufacturers
- Handicrafts and handloom enterprises
- Textile and ready-made garment units
- Footwear manufacturing
- Toy production
- Furniture manufacturing
- Service sector enterprises
Proposed Incentives
Officials indicated that the policy may include capital subsidies, technology support, concessional loans and relief in energy and other operational charges.
The government is also considering measures to help businesses access national and international markets. It expects the policy to strengthen the MSME ecosystem and generate additional employment opportunities in the state.
