PHD Chamber Proposes To Merge National and State MSME Policies

New Delhi, Nov 9 (KNN) Industry body PHD Chamber of Commerce and Industry has suggested the alignment of national and state-level MSME structures into a unified and comprehensive MSME policy, reported FE.

In its recent report the chamber has noted that many Indian states have distinct policies for supporting MSMEs and about one-third have developed comprehensive strategies to boost MSME growth. 

The chamber has urged the government to relook at the proposed national MSME policy in order to address the unique interests and needs of MSMEs in each state and region by considering the diverse structure across the states. 

It said that the government should resist the “allure of a one-size-fits-all policy, particularly in manufacturing which shows more heterogeneity across states. 

Such an approach could inadvertently stifle the adaptive capabilities of MSMEs in manufacturing, forcing them into inefficient strategies when faced with the distinctive circumstances of their respective states. 

“The path forward lies in blending the pursuit of common goals with the flexibility to adapt to state-specific requirements,” said the report. 

(KNN Bureau)