The West Bengal government is supporting the MSME (micro, small and medium enterprises) sector by creating an enabling eco-system by way of providing incentives like tax breaks, subsidies and guarantees for loans, an official said here on Thursday.

Speaking at a CII event, MSME department Rajesh Pandey said that the MSME landscape in West Bengal is growing rapidly.

"The state government is supporting the sector by handholding, creating enabling eco-systems, providing incentives like tax breaks, subsidies, and guarantee for loans among other things," he said.

Pandey said that the MSME landscape in West Bengal is growing rapidly.

"The state government is supporting the sector by handholding, creating enabling eco-systems, providing incentives like tax breaks, subsidies, and guarantee for loans among other things," he said.

The West Bengal Bhabishyat Credit Card Scheme gives collateral-free loans to the MSME sector, while the regulatory environment has been simplified, assistance is provided for gaining market access.

Pandey said that the state ranked second in terms of women-centric enterprises in the MSME space.

He also said that the government is encouraging the conversion of lease-hold to freehold properties, adding that the state is a major handloom textile hub.

The apparel and hosiery industries are thriving and known for its craftsmanship. For the textiles sector to flourish, the state government needs to provide incentives for it to grow and compete in the global market, he added.

Ravi Todi, chairman, CII (eastern region), MSME sub-committee, said that the MSME's contribution to India's GDP is 30 per cent and provides employment to 11 crore people. The MSME sector contributes to 40 per cent of total exports from the country.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.