Center to Push ‘One Product, One District’ Scheme at a National Level
6 Sep 2020
Centre to implement ‘One Product, One District’ scheme to focus the energies of states on the outreach of their own product of excellence. The program is expected to revive the economy after a period of recession due to COVID-19.
Commerce minister Piyush Goyal said that 24 products have been identified in partnership with industry, and it is expected to generate Rs 20 lakh crore manufacturing output in the next five years. The scheme was implemented in Uttar Pradesh two years ago and has helped MSME (Micro, Small and Medium enterprises) to grow. The scheme seeks to promote local and traditional industries compatible with the districts.
Industries would be able to avail a financial assistance under the scheme in the form of bank loans and infrastructure improvements. The districts would be given targets to achieve particular production results, boosting the economy. The States would compete in terms of ease of doing business to obtain better results. ODOP is a tested and proven Japanese concept aiming to improve the standard of living of the local population and foster signature industries of a region. It will be especially beneficial in a time when a majority of rural migrants have shifted back to their hometowns, helping them find a source of employment in their prominent local industry.