AP ranks 2nd for most job generation in SMEs

Hyderabad, July 24 (INN): With over 33,000 jobs generated in the small and medium enterprises (SMEs) sector between February to April this year, Andhra Pradesh has emerged the second leading state to facilitate growth in the SMEs sector, apex industry body ASSOCHAM said on Tuesday.

Utilising the margin subsidy money worth Rs 48.9 crore, the state of Andhra Pradesh assisted about 1,459 SME units across the State according to a State-wise analysis of number of SMEs assisted, margin money utilized and estimated employment generation during the aforesaid period carried out by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

West Bengal has emerged a front-runner state by generating over 43,000 job opportunities and assisted about 5,290 SME units utilizing about Rs 52.49 crore of the margin money subsidy, highlights the ASSOCHAM study.

'Over 3.25 lakh jobs were generated in the SME sector by providing assistance to a total of 35,607 SME units across India utilizing margin money subsidy worth about Rs 700 crore during the 11 months period between April 2011 and February 15, 2012,' said DS Rawat, national secretary general of ASSOCHAM while releasing the findings of the chamber's analysis.

'The SME sector accounts for about 45 per cent of India's manufacturing output and 40 per cent of the total exports of the country,' said Rawat. 'Besides, the sector is estimated to employ about 59 million persons in over 26 million units which produce over 6,000 products ranging from traditional to high-techs items.'

Assisting about 3,205 units, Uttar Pradesh ranked third with 30,880 jobs generated in the SMEs sector with the state government utilizing worth over Rs 107 crore of the margin money subsidy, highlights the ASSOCHAM study.

Tamil Nadu emerged as the fourth leading state by creating about 27,138 jobs and assisted about 1,827 SME units utilizing margin money subsidy of over Rs 44.6 crore during the aforesaid period.

The state of Odisha ranked fifth as about 21,010 employment opportunities were created in the SME sector as 2,101 SMEs were assisted by the state utilizing the margin money subsidy worth over Rs 39 crore.

Assam assisted about 2,234 SME units and created about 17,944 jobs utilizing about Rs 24 crore of margin money subsidy. About 15,442 jobs were created in SME sector by providing assistance to about 1,347 units in Karnataka utilizing the margin money subsidy worth over Rs 27 crore.

About 15,423 jobs were created in the SME industry of Bihar as the state government assisted about 2,442 units utilizing over Rs 50 crore of margin money subsidy. Rajasthan and Madhya Pradesh were other leading states in this regard.