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MSME Needs More Footprints

By August 9, 2020No Comments


MSME Needs More Footprints

Union Minister Gadkari emphasises upon improving MSME footprint in ...

New Delhi: Union Minister MSME, Nitin Gadkari said that there is urgent need to look towards improving presence of MSME industry in the 115 identified Aspirational Districts of the country.

Mr.Gadkari said this while addressing India@75 Summit : Mission 2022 organized by the Confederation of Indian Industries(CII).
While MSME contribution to GDP in the Aspirational Districts is presently negligible, but if focused attention is drawn towards them, these can uplift the employment scene in a big way.
The Minister informed that the Union Government is working upon a scheme for inclusion of smallest units under MSME ambit providing for their micro financial requirements.
Recently, the MSME Umbrella has been expanded and industry with investment value up to Rs 50 crore and turnover up to Rs 250 crore has been covered in the new definition of MSME.
 Also, the manufacturing and service sectors under MSME have been brought together by giving similar definitions to both.
Ministry of MSME is regularly monitoring payment towards MSME dues with the various Departments, PSUs both at Center and State.
As per provisions of MSME Development Act 2006, MSME dues have to be released within 45 days.
State Governments have been urged to regularly monitor through a proper mechanism so that pending dues , which have been filed by MSMEs can be monitored and early release can be made.
Ministry of MSME has opened and claims of pending dues are filed by MSMEs in this portal.
Gadkari called upon the CII representatives to share ideas and suggestions for improving the overall economic condition of the country.
He cited the example of China, where top 10 business categories contributed about 70 per cent to its export bill.
He said, by technology upgradation, India can also look for new export avenues in MSME sector. This will help grow a large number of ancillary units, he said.
Gadkari also asked  CII to draft a proposal for insurance of roads which will remove requirement of Bank Guarantee(BG).
This will speed up financial closure of road projects and in raising finances, thereby faster project completion.
He elaborated how road scenario was changing in the country which would further immensely improve with proposed 22 new green expressway projects.
Odisha has 10 Aspirational Districts and Satyabrata Sahu, Principal Secretary MSME was also Prabhari Officer of Rayagada Aspirational District.
Mr.Sahu has been proactively promoting the issues of MSME, when he was Prabhari Officer of Rayagada.
As Principal Secretary MSME, Mr.Sahu has asked officials to look into the issues of entrepreneurs posing hurdles for them during COVID-19 Pandemic, said sources.

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