New Delhi, Dec 17 (KNN) Representatives from several industry bodies met Finance Minister Nirmala Sitharaman and suggested ways to boost industry here on Tuesday.

Federation of Indian Micro & Small and Medium Enterprises (FISME) was also invited for the meeting.

FISME President Animesh Saxena highlighted the key issues and demands of the Micro, Small and Medium Enterprises (MSME) sector.

While talking to KNN India, Saxena said FISME has emphasized on fund availability, investment and other related problems in the MSME sector.

''We had discussions on challenges faced by MSMEs and issues which are being faced by the MSME which are stopping them from flourishing. In this regard what can be done in the coming budget were also discussed,'' Saxena said.

''From FISME, we have raised issues like fund availability, investments in the MSMEs and the issues related to insolvency and bankruptcy code where lot of MSMEs are treated as the operational creditors and their money is stuck," he asserted adding Rs 4000 crore is already stuck.

Saxena further said that FISME is taking all the necessary steps to bring this to the notice of the government.

"We have requested the government if that can be of the resolution cost which is hardly 1.2 to 1.5 per cent,'' he said.

FISME President urged the government to focus on medium enterprises as the government focuses on Micro and Small Enterprises but to some extent Medium sector is neglected.

''There is a lot of focus on Micro and Small industries as compared to Medium scale industries. Medium industries have the biggest potential to scale up their size and contribute to the exports and the GDP,'' he avowed.

While commenting on Logistics, Saxena said that this area is highly irregulated and the costs are very high. He suggested some regulatory mechanism for this should be created. (KNN/ AKC)

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