New Delhi, Apr 5 (KNN) With growing interdependence of the world's economies, Micro, Small and Medium Enterprises (MSMEs) in Noida are lagging behind because of big foreign companies investing here, said Noida Entrepreneurs Association (NEA).

While sharing the pain points of MSMEs in Noida, President of NEA, Vipin Malhan said “In last 15 years, no big Indian company has made investment in the region due to which MSMEs in the region have been suffering badly.”

He explained that Noida is a hub of MSMEs/SMEs and small industries here are dependent on large and big industries for survival. And when big foreign companies invest in India the benefits of those investments are reaped only by the government via taxes and public who look for employment opportunities.

Around 10,000-15000 small industries existing here suffer a lot in the absence of any business opportunities for them.

Concerned over the situation in Noida due to this, Malhan asked for boosting domestic investment in the region to generate business opportunities for downstream or ancillary units.

He said “Big Indian companies should be established in India to safeguard the existing and emerging MSMEs here.”

If big Indian companies come to Noida then MSMEs here would be able to survive, he added.

Greater Noida Chapter Chairman of Indian Industries Association (IIA), S.P. Sharma, while sharing the  expectations of MSMEs in Gautam Buddh Nagar told KNN India that the policies and schemes introduced for MSMEs should be implemented in full spirit, whosoever comes to power after elections.

Besides this, he stated “Government makes policies keeping in mind the large industries and always neglect small industries.”

However, the government pretend to care for small industries and keep taking suggestions from MSMEs. However, on the ground level implementation is zero as far as MSMEs are concerned, the IIA Chapter Chairman said.

In Noida infrastructure is good but policies and schemes that have been introduced for MSMEs fail to reach the targeted audience, he added.

He also asked for further simplification of Goods and Service Tax (GST) along with a single tax rate. (KNN/YV)