Ggn MSMEs to play key role in job creation in Haryana

Gurugram: The Haryana government will table its last full-fledged Budget on Monday, before it begins preparations for the Assembly elections, to be held in 2019.

On Sunday, Chief Minister Manohar Lal Khattar emphasized the importance of skill development among the youth and subsequent job creations among them.

The head of the state raised the significance of micro, small-scale, medium enterprises (MSMEs) in absorbing the growing number of job aspirants.

Providing the figures, Khattar said that while 37,000 aspirants have been placed after the skill development, their target was over two lakh placements.

With over 8,000 MSMEs, Gurugram is the leader in the state in the small scale enterprises.

Auto ancillary, information technology and garment exports, for long, have played a crucial role in propelling the region's economy. However, most of these units are now facing various challenges.

A major contributor of revenue to the government, the garment exports units in the city is today facing financial difficulties. The situation does not look bright for other garment export units too, with foreign buyers now heading to markets like Bangladesh and South East Asia. Owners highlight that the margin of profits for most of the units in the city have reduced to 40 per cent.

Shortage of skilled labour and rising infrastructural costs is further resulting in losses to smaller garment export units, that are unable to meet the production standards of newer markets.

Despite the numerous shortcoming, owners of over 800 garment export units had welcomed the Union Budget for keeping the slab of corporate tax to 25 per cent for companies with Rs 250 crore turnover.