Bangalore, Dec 11 (KNN) A delegation of Federation of the Karnataka Chamber of Commerce and Industry (FKCCI) met the Union Minister of Micro Small and Medium Enterprises (MSME) Nitin Gadkari and demanded a reduction in interest rates on a par with housing loans, and a lower turnover limit for trade receivables in the e-Discounting System (TReDs).

A delegation of MSMEs led by C R Janardhana, President FKCCI, met Nitin Gadkari and raised the various issues affecting the MSME sector.

Reportedly, the minister said that he was aware of the issues faced by the MSMEs. There are policies in the making for the development of rural areas, the agricultural sector and MSMEs.

The delegation also sought a change in the classification of NPA norms in bank lending to MSMEs, strict implementation of Public Procurement Policies and enactment of Labour Law Reform and the Small Factories Act.

"Karnataka is an industrially developed state and suggestions are welcomed from industry bodies on the issues faced by them," Gadkari said.

He also said there was a need to boost export industries and reduce imports. The Government was willing to support industries, which manufactured native products as import substitutes.

Gadkari further said the Government is trying to resolve the problem related to Mangalore Port.

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