Nitin Gadkari says solving ground-level issues is need of hour; social microfinance facility underway

 Financial Express

August 14, 2020

Ease of Doing Business for MSMEs: Union Minister for Micro, Small & Medium Enterprises and Road Transport & Highways Nitin Gadkari said that the need of the hour is to address the ground level issues sector-wise and industry-wise.

Ease of Doing Business for MSMEs: As India slips into the marsh on its economic front, Union Minister for Micro, Small & Medium Enterprises and Road Transport & Highways Nitin Gadkari said that the need of the hour is to address the ground level issues sector-wise and industry-wise. Nitin Gadkari added that all the sectors like plastic, garment, leather, pharmaceuticals, etc, and industries associated with them have unique problems and thus it is important to resolve such issues in order to formulate the new policies, according to the Ministry of Micro, Small & Medium Enterprises. He further urged the MSME member bodies and sectoral associations of FICCI to study the ground level problems of important sectors through various Think Tanks and present their recommendations so that policy decisions can be taken to solve various problems.

Taking into account Prime Minister’s Narendra Modi’s Atma Nirbhar Bharat mission, Nitin Gadkari appealed to the industry bodies to associate themselves with the initiative of self-reliance so that import bill may be reduced and more employment opportunities are created through enhancing manufacturing activities and production in the country.

“We are trying to develop industrial clusters throughout the country especially in rural, tribal, and agricultural areas,” the minister said. The government is also in the process to roll out a policy for a social microfinance institution, which will make available finance up to Rs10 lakhs for very small entrepreneurs, businesses and shop owners, etc. In order to maintain social distancing, Nitin Gadkari also suggested to bring in automation and digitalisation in the MSMEs on a bigger scale.

Meanwhile, turning the pandemic into an opportunity to develop the domestic market for production of medical equipment, with the combined efforts of Ministry of Health & Family Welfare, Ministry of Textiles, Ministry of Pharmaceuticals, Department for Promotion of Industry and Internal Trade (DPIIT), Defence Research and Development Organisation (DRDO) and others, India has hugely ramped up its own manufacturing capacity. With the Atma Nirbhar Bharat Abhiyan and the government’s flagship ‘Make in India’ initiative, India exported 23 lakh PPEs to five countries — USA, UK, UAE, Senegal, and Slovania — in the month of July, said the government. This has substantially aided India to position itself in the global export market of PPEs, it added. 

Ref. https://www.financialexpress.com/industry/sme/msme-eodb-nitin-gadkari-says-solving-ground-level-issues-is-need-of-hour-social-microfinance-facility-underway/2055074/

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