Panaji, Mar 7 (KNN) The Goa government has renamed the Directorate of Industries, Trade and Commerce as the Directorate of MSME, Industries, Trade and Commerce, signalling a stronger policy focus on micro, small and medium enterprises (MSMEs).
Announcing the move in the state budget, Chief Minister Pramod Sawant said the change aims to address the absence of a dedicated administrative structure for MSMEs. According to him, this gap had often slowed enterprise growth even after businesses completed the registration process, TOI reported.
The renaming reflects a broader economic strategy that places small businesses — including neighbourhood enterprises and self-help groups — at the centre of Goa’s growth plans.
Budget Allocations and Innovation Scheme
In his final budget of the current term, Sawant allocated Rs 108 crore to the department and announced the Chief Minister’s MSME Innovate Scheme, 2026 to promote innovation and competitiveness in the sector.
The scheme proposes support for innovation, research and development, intellectual property, lending, incubation, seed capital, skill development, salary reimbursement and operational assistance. Around Rs 1 crore has been earmarked for these initiatives.
In addition, the budget has set aside Rs 5 crore for four new MSME schemes focused on green investment promotion, branding, trade promotion and integrated enterprise support.
Higher Subsidies and Digital Support
To strengthen incentives for MSMEs, the government has increased the employment subsidy per enterprise from Rs 25 lakh to Rs 30 lakh. Subsidies and reimbursements may now cover up to 80 per cent of eligible costs.
A single-window portal for MSMEs is also planned to streamline approvals and services for businesses.
Support Through RAMP Programme
The initiatives build on the Raising and Accelerating MSME Performance (RAMP) Programme, supported by the World Bank. Under this programme, the state has been assisting MSMEs in scaling operations and improving sustainability, including helping members of self-help groups transition into formal business owners.
IPO Cell and Export Incentives
The budget also proposes an IPO Cell to support small and medium enterprises seeking to list on stock exchanges.
In addition, the Mukhyamantri Export Incentive Scheme will provide Rs 4 lakh per year for two years to 50 MSMEs on a first-come-first-served basis. The government has allocated Rs 2 crore for the programme, aimed at helping local enterprises expand into global markets.
(KNN Bureau)
