Bangalore, June 1 (KNN) A nine-member parliamentary standing committee for Industry met MSME associations in Bangalore recently  to get some inputs on the credit reaated issues that the Micro, Small and Medium Enterprises (MSMEs) face.

Karnataka Small scale industries Association (KSSIA), President VK Dikshit told KNN that KASSIA has submitted a memorandum with the committee highlighting increasing input cost and decreasing final product cost which is making MSMEs non-competitive with neighbouring countries including Bangladesh.

“Now a day’s people are scared to start industries and are demanding support by the Government as well as the eco-system within the country which needs to be changed,”kassia said.

Officials from Government departments, Banks, SIDBI , DIC, MSME  and commissioners were present there to attend the meeting.

KASSIA also demanded that the industries should get loan at the rate of six per cent, said the President.

Priya Puranik one of the woman entrepreneurs told KNN that the meeting was fantastic and can help to know about the financial support available in the market for the MSMEs

The meeting was presided by the Chairman of the Committee Narendra Badania.

MSMEs always complaint about the loan given to them on a high interest rate whereas the loan given to big companies on lesser interest of rate.(KNN Bureau)