New Delhi, Jan 13 (KNN) Union Minister for Micro, Small and Medium Enterprises (MSME), Kalraj Mishra said that enhanced contribution from MSMEs to the GDP, manufacturing output, employment and exports will lead to healthy growth with a large number of new enterprises being set up and graduating into small and medium enterprises.

In his address at the ‘MSME Banking Excellence Awards’ programme organised by the Chamber of Micro, Small and Medium Enterprises here on January 10, the minister said at an organisational level, transition of the sector from a predominantly unorganised to the organised sector, would be also be welcomed.

He highlighted the challenges being faced by the MSME sector, including absence of level playing field, reluctance of banks and financial institutions to providd credit to MSMEs, lack of access to technology and inadequate marketing capabilities.

Outlining the vision of the Ministry of MSME and its initiatives towards dealing with these challenges, Mishra reiterated the goals of the ministry. These include inculcation of entrepreneurial culture amongst youth, facilitation of credit flow to MSMEs, improving competitiveness of MSMEs, promotion of MSMEs through cluster-based approach, providing marketing support to MSMEs, creation of new micro Enterprises through Prime Minister’s Employment Generation Programme (PMEGP), support to Khadi and Village Industries (KVI) sector, support to coir Industry and skill development.

He requested banks and other financial Institutions to come forward for credit facilitation and team up with Ministry and MSMEs to implement the ambitious vision of ‘Make in India’. (KNN/ST)