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10/07/2018 12:28pm

CODISSIA demands single window clearance for MSMEs, incentives and measures to check raw material prices

image CODISSIA demands single window clearance for MSMEs, incentives and measures to check raw material prices

Coimbatore, July 10 (KNN) The small industries of Coimbatore have demanded single window clearance for all approvals for MSMEs like land conversion.

The demands were made during the Annual General of industry body CODISSIA held here recently.

CODISSIA said the State and Central Governments should provide subsidies to MSMEs for expansion and modernisation along with marketing assistance to take part in the national and international trade fairs, both, as participants and visitors.

The entrepreneurs highlighted that the prices of raw materials for MSMEs have escalated 35% after implementation of GST. The Government should intervene and stabilise the raw material prices at pre-GST levels.

The National Small Industries Corporation should buy raw materials in bulk and distribute to MSMEs at competitive prices. The corporation is already a raw material supplier. It can enter into a tripartite agreement with MSMEs and banks to supply raw materials with bank loan under the credit guarantee fund scheme, the association suggested.

On the defence procurement policy, the association said a new consortium or special purpose vehicle floated by a group of existing MSMEs should be recognised as an Indian Offset Partner. A corpus should be created for MSME-IOPs and lending to these units should be on a par with priority sector. The SPV should be considered eligible for offset benefits that individual MSMEs enjoy.

R. Ramamurthy of Sri Rang Industries was elected president of the association of 2018-2020.

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