Credit access, procurement policy, easier regulatory mechanisms are key enablers for MSME success
Updated: Jan 12, 2015 02:41:34pm
New Delhi, Jan 12 (KNN) To ensure growth and success of MSMEs, they need easier, timely and cost effective access to credit, strict monitoring and implementation of public procurement policy and simplified registration and regulatory mechanisms.
These were the key recommendations that emerged out of the deliberations of a recently concluded NIESBUD symposium on the theme 'Growth and Prospects of MSME Sector in Emerging Scenario,’ according to the Ministry social media site.
The two day symposium was organised by the National Institute for Entrepreneurship and Small Business Development (NIESBUD, Noida) in collaboration with Confederation of Indian Industry (CII) from January 8-9 here.
Speaking during the inauguration, Union Minister for Micro, Small and Medium Enterprises, (MSME), Kalraj Mishra said that the emerging economic scenario in the country has thrown open vast opportunities of development and diversification for the units in the Micro, Small and Medium Enterprise (MSME) Sector.
He said that the sector owing to its inherent characteristics and innate strengths will play a much larger role in the revival of the Indian economy and emerge as a potent tool to exploit the demographic dividend being enjoyed by the nation at present.
He added that the present Government’s initiative of 'Make in India' and its emphasis upon increasing the share of the Manufacturing Sector in the Gross Domestic Product (GDP) from the present 14-15 per cent to 25 per cent by 2022, have the potential of transforming the fortunes of the Sector enabling it to scale hitherto unheard heights.
Mishra delineating the plans and schemes of the Government of India for enabling the MSME units to play the role expected of them in the changing economic environment, impressed upon panellists and delegates of the symposium to deliberate upon the strategies for strengthening the units so that their products are of world standard and easily acceptable in the global markets.
The Government, he assured on its part is taking all steps for spreading the cult of entrepreneurship, skill development and sustenance of MSME units. Shri Mishra also expressed hope that the deliberations during the course of the Symposium would further strengthen Government’s efforts in this regard.
The Symposium was attended by more than 400 delegates representing different Government Ministries; Industry; Industry Associations; Academia; Financial Institutions; Support Organisations and Experts connected with the Sector. (KNN/ES)
These were the key recommendations that emerged out of the deliberations of a recently concluded NIESBUD symposium on the theme 'Growth and Prospects of MSME Sector in Emerging Scenario,’ according to the Ministry social media site.
The two day symposium was organised by the National Institute for Entrepreneurship and Small Business Development (NIESBUD, Noida) in collaboration with Confederation of Indian Industry (CII) from January 8-9 here.
Speaking during the inauguration, Union Minister for Micro, Small and Medium Enterprises, (MSME), Kalraj Mishra said that the emerging economic scenario in the country has thrown open vast opportunities of development and diversification for the units in the Micro, Small and Medium Enterprise (MSME) Sector.
He said that the sector owing to its inherent characteristics and innate strengths will play a much larger role in the revival of the Indian economy and emerge as a potent tool to exploit the demographic dividend being enjoyed by the nation at present.
He added that the present Government’s initiative of 'Make in India' and its emphasis upon increasing the share of the Manufacturing Sector in the Gross Domestic Product (GDP) from the present 14-15 per cent to 25 per cent by 2022, have the potential of transforming the fortunes of the Sector enabling it to scale hitherto unheard heights.
Mishra delineating the plans and schemes of the Government of India for enabling the MSME units to play the role expected of them in the changing economic environment, impressed upon panellists and delegates of the symposium to deliberate upon the strategies for strengthening the units so that their products are of world standard and easily acceptable in the global markets.
The Government, he assured on its part is taking all steps for spreading the cult of entrepreneurship, skill development and sustenance of MSME units. Shri Mishra also expressed hope that the deliberations during the course of the Symposium would further strengthen Government’s efforts in this regard.
The Symposium was attended by more than 400 delegates representing different Government Ministries; Industry; Industry Associations; Academia; Financial Institutions; Support Organisations and Experts connected with the Sector. (KNN/ES)
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