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Formalization of economy & EODB steps will make MSMEs future of new India: Invest India CEO

Updated: Dec 14, 2018 07:28:21am
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Formalization of economy & EODB steps will make MSMEs future of new India: Invest India CEO

New Delhi, Dec 14 (KNN) With the entire process of formalization of the economy and the steps taken by the government towards ease of doing business, the micro, small and medium enterprises (MSMEs) sector will have very high growth rates, they will come up with very innovative solutions and will become the future of new India, said Deepak Bagla, Managing Director and CEO, Invest India.

In an interview to KNN India, Bagla said, “If you look at the ways government is trying to build three pillars for the MSME sector - - a) access to credit b) access to market and most importantly c) access to technology and management, that’s where PM Modi recently came up with the 12 point steps which includes the 59-minute loan process.”

He said this on the sidelines of FISME-Amazon Digital Utsav organized in the national capital on Thursday. The Federation of Indian Micro and Small & Medium Enterprises (FISME) has signed a Memorandum of Understanding with Amazon India to educate the MSMEs about online selling.

Bagla pointed that the entire process of formalization of the economy, GST for example, all these or the ease of doing business is making it easier for the MSMEs to let their business get going.  (KNN Bureau) (WATCH FULL VIDEO)

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