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Help MSMEs gain momentum-boost business, PM Modi urges

Updated: Dec 14, 2017 06:42:05am
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Help MSMEs gain momentum-boost business, PM Modi urges

New Delhi, Dec 14 (KNN) Voicing support for the Micro, Small and Medium Enterprises (MSMEs) sector in the country, Prime Minister Narendra Modi urged industry body Federation of Indian Chambers of Commerce and Industry (FICCI) to help the sector with the required momentum, calling for a creation of New India.

The Prime Minister said that the corporate India should take pledge towards creation of a New India - an India that fulfils the aspirations of the poor and needy, gives fillip to domestic industry, big and small, where Micro, Small and Medium Enterprises (MSMEs) are hand-held by large corporates to serve the requirements of the people in every nook and corner of the country, FICCI said in a release.

Organisations like FICCI have a key role to play in sectors such as food processing, start-ups, artificial intelligence, solar power, healthcare etc, the PM added.

PM Modi made the following remarks during the inaugural address at the 90th Annual General Meeting (AGM) of the Federation of Indian Chambers of Commerce and Industry (FICCI) in the national capital.

Listing other economy related concerns PM Modi said that a lot has been achieved since independence, but several challenges have arisen as well. He said the poor seemed to be struggling against the existing system for things such as bank accounts, gas connections, scholarships, pensions etc.

He said the Union Government is working to end this struggle, and to create a system that is transparent and sensitive.
 
The Prime Minister said that his Government was working to strengthen the banking system, maintaining that the concern comes as a followup of the previous regime.

Commenting over the newly implemented GST, PM Modi said the Government's effort is to ensure that maximum businesses register for GST. He said the more formal the system becomes, the more it will benefit the poor.

It will enable easier availability of credit from the banks and reduce cost of logistics, thereby enhancing competitiveness of businesses, PM Modi added.

He also voiced the need to support and handhold the small traders become a part of GST.  (With PIB Inputs) (KNN/DA)

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