Ease of Doing Business for MSMEs: MSME Minister Narayan Rane on Wednesday launched a month-long initiative Enterprise India to promote entrepreneurship culture in the country and create awareness about its various schemes offered to micro, small and medium enterprises (MSMEs). The ministry tweeted it has planned a series of commemorative events and activities from April 27 to May 27, 2022, to encourage youth toward entrepreneurship and benefit from various MSME schemes. The initiative was launched during Rane’s meeting with various industry associations.
“We have to collectively work towards MSME development, enhance their production, increase (their share in) GDP and exports, and make India self-reliant. We understand businesses have been under stress due to Covid and hence the government had launched multiple schemes for small businesses to support them. I want to assure you all that we will continue to upgrade and develop the MSME sector and I hope you (industry associations) will cooperate in realising the vision of Atmanirbhar Bharat,” Narayan Rane said in his address.
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The launch of Enterprise India and meeting with industry associations come ahead of the upcoming MSME policy. Apart from the discussion on the draft policy, the meeting also had other topics listed for discussion including delayed payment cases with MSE Facilitation Councils, change in MSME definition, challenges in securing collateral-free loans, rating of MSMEs, credit restructuring issues, technology development and R&D activities in the sector, skill development for MSMEs to improve competencies, etc.
The outcome of the meeting will be updated here.
The MSME Ministry had released the draft policy in February this year focusing on improving competitiveness among MSMEs, enhancing their technology upgradation, cluster and infrastructure development, procurement of products from MSMEs and providing dedicated credit support. FICCI, CII, CIA, PHD Chamber of Commerce and Industry, Assocham, FISME, FIEO, IEEMA, and multiple state-level chambers and industry associations were invited to the meeting with Rane.