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25% procurement barrier for MSMEs crossed, target is to reach 50%: Giriraj


 

We have crossed the barrier of 25% procurement for Micro, Small and Medium Enterprises (MSMEs), and will further reach 50%, said Giriraj Singh, Minister of State (Independent Charge) for MSME.

“In the coming days we will further reach 50% which will employ more number of SC-ST entrepreneurs and also women entrepreneurs,” he added.

Singh said this while talking to reports after the Stakeholders Consultation Meeting of National SC/ST Hub at New Delhi.

Talking about the employment generation by MSMEs he said that MSMEs have been very successful in these four years of governance and provided employment to almost 10 crore citizens of India, under various different schemes

First thing Prime Minister Narendra Modi did after coming in power was to increase the collateral free credit from Rs 1 crore to Rs 2 crore for MSMEs, he said.

He further praising the Modi government said that under the Credit Guarantee Scheme, we have provided credit to 18lakh entrepreneurs and under PMEPG Scheme we have provided credit to 2lakh entrepreneurs.

Total 20lakh entrepreneurs have been credited with Rs 2 crore credits, Singh added.

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