New Delhi, Dec 26 (KNN) The official release titled ‘Year End Review 2014 MSME’ says that Make in India campaign will spur both Indian companies as well as global firms to invest and partner in the manufacturing sector. The concept of Make in India is well drawn out and is the most relevant for India’s MSMEs.

“Make in India campaign can attract the foreign MNCs to bring in their investment, set up venture/angel funds to take advantage of the inherent depth of the MSME sector in terms of range of products and services, marketing networks and the ability to grow fast. Another advantage in Indian MSME sector the foreign partners would experience is that production process in this sector is already underway. The various networks required for undertaking the production process are already established. The foreign MNC is just required to bring in investment and technical know-how to achieve excellence in these areas,” it said.

The release by the ministry added that  Ministry of MSME has been has been implementing a number of programs and schemes in the areas of finance, infrastructure, technology, marketing and skill development to address the problems confronting the sector so that the capabilities of MSME can be scaled up.

The official release also highlighted the other mile stones achieved and the roadmap ahead by the  MSME ministry such as “Procurement policy to become mandatory from April 2015 , MSE- Cluster Development Programme, National Manufacturing Competitiveness Programme, Skill Development, Prime Minister’s Employment Generation Programme (PMEGP), Thrust on Khadi & Village Industry, Assistance to Training Institutions, International Cooperation Scheme, Udyami Helpline.

It also mentioned the other schemes launched in the year which included, Credit Linked Capital Subsidy (CLCS) Scheme for Micro and Small Enterprises, Marketing Assistance Scheme, Credit Guarantee Scheme and Performance and Credit Rating Scheme. (KNN/TR)