The Associated Chambers of Commerce & Industry of India

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MSME Support Programme a welcome initiative; to spur job creation & boost exports: ASSOCHAM prez


Thursday, November 01, 2018

New Delhi, 1st November, 2018:
Terming the scheduled launch of a MSME support programme by Prime Minister Narendra Modi on Friday as the much needed step to boost the confidence of trade and industry, ASSOCHAM president, Mr B.K. Goenka today said that the move would not only promote development of micro, small and medium enterprises (MSME) sector but also help generate employment countrywide.
“Timely, easy and adequate finance is lifeline for the SME sector which is the most powerful engine of India’s economic growth,” said Mr Goenka.
Highlighting the importance of the MSME sector, Mr Goenka also said that it is the backbone of Indian economy as it contributes about 30 per cent of India’s gross domestic product (GDP) and 49 per cent of exports.”
He added, “Thus, the launch of MSME support and outreach is a much needed step by government to promote the MSMEs in niche segments by providing timely, easy and adequate finance for sustainable growth and employment generation.”
Mr Goenka also said that the government's initiative would provide the MSME sector with easy access to credit, access to market, hand-holding along with facilitation support.
“It is a very critical step in the right direction by the government as a major chunk of MSMEs operates in informal sector and their inability to access timely and adequate finance proves to be the biggest challenge for their growth,” said the ASSOCHAM chief.
He further said, “Thus it is a very welcome initiative being undertaken by the Hon’ble Prime Minister and we at ASSOCHAM reiterate industry’s full support to the government for growth of MSMEs in India.”

ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations, and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on
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