MSME Park To Be Established In Sambalpur

In a bid to promote MSME growth, Odisha Industrial Infrastructure Development Corporation (Idco) will soon develop an MSME Park at Basantpur, on the outskirts of Sambalpur. The MSME park will be developed over an area of 50-acre. The park was bought by Idco for Rs 2 crore last year for the development of a new industrial estate.

Divisional Head, Idco, Sanjib Kumar Panda said that entrepreneurs interested in starting an MSME will be allotted plots of 5 decimal and 10 decimal size. The state government and the central government will collectively provide funds for the development of the park. As per official sources, a minimum of 350 MSME units would be served in the park.

With this MSME park and three other major projects including the permanent campus of Indian Institute of Management, Sambalpur (IIM-S), Sainik School and second campus of Gangadhar Meher University besides Group Centre of CRPF, Basantpur is anticipated to soon become a major economic hub.

Earlier this month, CM Naveen Patnaik inaugurated the Odisha MSME International Trade Fair 2020, stating that it offered a unique opportunity to entrepreneurs of Odisha to showcase their products and services to a wider audience. This fair depicted the contribution of Odisha’s MSMEs to the GDP by creating immense employment opportunities.

A total of 350 MSMEs were a part of the eighth edition of the trade fair event held at Bhubaneswar which included 20 entrepreneurs from Iran and 12 from Bangladesh.