MSME Ministry to meet industry representatives today to discuss impact of demonetization

New Delhi, Nov 24 (KNN) In the wake of growing concerns being raised by the MSMEs from across the country, the MSME Ministry is holding meeting with the MSME associations today in the national capital to discuss the impact of demonetization on different sectors.

Industry associations from across the country are attending the meeting being held by DC –MSME to give their representation on the issue.

Some of the industry bodies to attend the meet include FISME, Industries Association of Uttarakhand (IAU), KASSIA and more.

Talking to KNN, Pankaj Gupta, IAU President said, “Today we have come here to attend the meeting organized by the Ministry. We will submit the issues faced by the sector and will also propose solutions to deal with the current situation.”

The Karnataka Small Scale Industries Association (KASSIA) has appreciated the move taken by the Ministry and in a letter to KK Jalan, Secretary, Ministry of MSME, KASSIA said, “However, in the wake of demonetization, we witness considerable confusion and dislocation in carrying out day to day financial transactions. It seems to have thrown MSMEs, particularly, micro and small enterprises into complete disarray.”

“The micro and small enterprises which by their very nature deal largely in cash for purchases as well as other transactions find it extremely difficult to cope in the absence of availability of ready cash in carrying their operations,” the letter added. (KNN Bureau)