KASSIA Hosts Union Minister, Highlights Key Concerns For MSME Sector Revival

Bengaluru, Sep 23 (KNN) The Central Government has launched a series of measures to address challenges faced by micro- and small-scale industries, according to Union Minister of State for MSME and Labour and Employment Shobha Karandlaje.

The minister outlined these initiatives during an interaction with industry representatives on Sunday.

Speaking at an event organised by the Karnataka Small-Scale Industries Association (KASSIA), Karandlaje provided an overview of the ministry's efforts to reinvigorate the MSME sector nationwide.

Key announcements included a proposed Centre of Excellence for upskilling, to be established by the National Small Industries Corporation (NSIC) in Peenya, potential inclusion of KASSIA in the National Board for MSMEs, and implementation of four wage codes to form a National Wage Board.

KASSIA President MG Rajagopal emphasised the necessity of a comprehensive strategy to ensure the survival of MSMEs in the current economic environment.

The association submitted a detailed memorandum to the minister, highlighting several concerns.

These included the need for access to affordable technology, requests for solar power subsidies, reforms in ESIC and EPFO policies, lower interest rates on MSME loans, and increased credit guarantee coverage to facilitate business growth.

The event was attended by industry leaders, office-bearers, and MSME representatives.

This development underscores the government's commitment to supporting the MSME sector, which plays a crucial role in India's economic landscape. As these initiatives unfold, their impact on small businesses and the broader economy will be closely monitored by industry stakeholders and policymakers alike.

(KNN Bureau)