February 27, 2022
2 mins read

Haryana’s PADMA to bring investment of Rs 25,000 cr


Deputy Chief Minister Dushyant Chautala and Minister of State for Labour and Employment Anoop Dhanak were present, among others…reports Asian Lite News

Haryana Chief Minister Manohar Lal Khattar on Wednesday launched a five-year programme named Programme to Accelerate Development for MSME Advancement (PADMA) that is expected to bring in investment of over Rs 25,000 crore.

PADMA is a multi-departmental and multi-agency programme which would not only promote the local products but would also give ample employment opportunity to the local youth, especially to the targeted Antyodaya families.

“Based on the principles of local yet global, PADMA aims to create a dynamic, self-sustainable and thriving industrial infrastructure at the cluster level for each block of Haryana,” said the Chief Minister while formally launching PADMA at a function here.

Deputy Chief Minister Dushyant Chautala and Minister of State for Labour and Employment Anoop Dhanak were present, among others.

“PADMA, a five-year programme, will not only revolutionise the industrial landscape in Haryana through the development of PADMA industrial parks across all the blocks but is also expected to bring in investment of over Rs 25,000 crore in the form of infrastructure, common facility centres, business development service centres and set-up new industrial units in each blocks,” said Khattar.

He said around 10,000-15,000 new units are expected to be opened by next year in these clusters.

The Chief Minister said in line with Atmanirbhar Bharat and to support state Micro, Small and Medium Enterprises (MSMEs), a tremendous focus has been on development of its MSME ecosystem. “With this in mind the Haryana government has set up a separate directorate for the MSMEs.”

“The MSMEs play a significant role in the economic landscape of Haryana, contributing over 22 per centA to the Gross State Value Added (GSVA),” said the Chief Minister.

He said under PADMA, one product in each block of 22 districts, has been identified based on the locally available resources, existing micro enterprise ecosystem, demographic profile, key opportunities, sunrise sectors and growth potential.

“If required necessary training and skilling would also be given so as to promote this sector,” he added.

Deputy Chief Minister Chautala said with the launch of PADMA a new benchmark has been set for taking the industries forward.

“One year ago, the blueprint of this One Block One Product was prepared and a survey and study were conducted before the implementation of this programme. The findings highlighted that there are various local products at block levels that have huge market potential. In a bid to give a boost to each block and their special product on a larger level, PADMA programme has been launched,” Chautala, who also holds the portfolio of Industries and Commerce Departments, said.

ALSO READ-Sharp oil price hike may affect most exposed economies’ macro stability

Previous Story

Feel Good: Unique collection to break societal norms

Next Story

Nigeria to hold next presidential election on 2023

Previous Story

Feel Good: Unique collection to break societal norms

Next Story

Nigeria to hold next presidential election on 2023

Latest from Business

Airbus delivers first jet from new China line

Airbus has delivered the first A320neo from its second Tianjin assembly line, expanding production capacity as China’s aviation market continues to grow, reports Asian Lite News Desk Airbus has delivered the first

Hong Kong retains global finance crown in Asia

Hong Kong retains third place in the latest global financial centres index, leading Asia-Pacific while ranking first worldwide in fintech and financial sector development, reports Asian Lite News Desk Hong Kong has

Oracle cuts jobs as AI spending surges

The move follows a substantial reduction in Oracle’s workforce during the company’s latest financial year. Company filings show that its employee count fell by around 21,000, or 13 per cent, during the

India Remittances Surge Over Decade

Digital connectivity has strengthened these links by allowing migrants to share knowledge and expertise remotely while continuing to work and remain economically active overseas…reports Asian Lite News Desk India’s remittance economy has

Apple Bundles TV, Arcade With iCloud+

Apple said the expanded iCloud+ package will roll out in more than 100 countries and regions through the end of September Apple has expanded its technology and subscription ecosystem in India with
Go toTop

Don't Miss

UAE, Philippines Explore Trade, Investment Ties

The two sides focused on the importance of joint work

132 Padma Awards This Year

PM Modi congratulated those who have been honoured with the