Kolkata: Mishra attends National Conference and Round Table Meetings on MSME sector
He mentioned that till now though several policies have been undertaken to tackle the problems on credit availability, incidences of default and other related obstacles, still a number of problems exist.
He said a comprehensive policy is needed to be formulated which would take care of the existing problems in an in depth manner.
He said that the Ministry intends to come up with new policies to provide a concrete solution.
In the maiden budget of the new government they have announced to allocate a fund of 10000 crores for facilitation of MSME industries.
Mishra mentioned that the Union Government has started taking suitable initiative to promote the Indian MSME sector like other Asian countries including China and Japan.
He announced that an industrial park is soon going to be established in Ahmedabad by Indian Government in collaboration with the Chinese Government which will pave a new way for the Indian manufacturing industry.
He also announced that as an initiative to eradicate the financial bottlenecks, the Ministry has set a plan to provide institutional credit by the ‘Credit Guarantee Fund Trust’ for easy availability of credit, particularly to the micro and small enterprises.
Mishra said that MSMEs contributing for about 45% of India’s total export volume and 8% of India’s GDP need further focus, particularly in the division manpower, skill development and technological advancement.
He mentioned that to promote the rural entrepreneurs and make their products commercially more viable, a B2C portal for marketing has been initiated by the Government of India.
K V Srinivasan, CEO, Reliance Commercial Finance during his special address, primarily focused on the need to understand different dimensions of MSMEs and provide with a tailor made solution to the relevant stakeholders.
The two day conference, majorly supported by Canara Bank and Reliance Capital also witnessed participation of relevant stake holders, bankers, big industries, Micro, Small and Medium Social entrepreneurs & others.
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