Assocham Urges Goa CM To Address Funding Gaps In MSME, Agri sectors

Panaji, Mar 15 (KNN) The Associated Chambers of Commerce and Industry of India (Assocham) has presented pre-budget recommendations to Chief Minister Pramod Sawant, highlighting critical funding gaps in MSME, farming, and skill development sectors. 

Assocham Goa Council Chairman Manguirish Pai Raiker emphasised the need for greater focus on women's empowerment initiatives.

"Awareness and funding to the rural sector, especially farmers, are lacking. Government should extend the Economic Development Corporation (EDC) scheme, which offers low-interest loans meant for MSME, to the farming sector as well," said Raiker. 

He further suggested that the government should promote manufacturing, including drone development, pharmaceuticals, and the defense sector, noting that supporting ancillary MSMEs in these areas could generate more employment opportunities.

The industry body recommended identifying land for cold chains near farms, warehousing facilities, cargo stations, and truck terminals to enhance logistics and export capabilities in Goa. 

"Budget may be availed to establish a dedicated AI innovation lab within government to foster research, collaboration, and deployment of AI solutions tailored for governance and a Centre of Excellence in Drone Technology to drive innovation, research, and development in the field," said Sagar Salgaokar, Deputy Chairman, Assocham Goa Council.

Assocham has also requested specific budgetary allocations for women enterprises. Salgaokar stated that the government must support micro and small women-led businesses with subsidies, incentives, and mentorship. 

"Further, there must be efforts to bridge the credit gaps in women by promoting financial inclusion and organising awareness programmes. Many SHGs struggle to get bank loans due to a lack of collateral, rigid eligibility criteria, and complex documentation. The sanctioned loan amounts are often inadequate to meet the SHGs' business expansion or livelihood needs," Raiker added.

(KNN Bureau)