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MSME industry should come with special proposals & suggest steps to boost production, exports & withstand global competition: MoS Commerce & Industry

 

Thursday, June 27, 2019


New Delhi, 27 June 2019:
The MSME industry should come up with ‘special proposals,’ and suggest steps required to be taken by the government to increase production, boost exports and enable domestic enterprises to withstand global competition, Union Minister of State for Commerce and Industry, Mr Som Parkash said at an ASSOCHAM event held in New Delhi today.
 
“Some friends met me some days back in my office, they told me they have some problems, I ensured them that whatever problems you have we will discuss with open mind and whatever we can do in the ministry, we will do,” said Mr Parkash while inaugurating an ASSOCHAM National Conference – ‘Promoting exports in Indian MSMEs,’ held on International MSME Day.
 
He added, “Come with special proposals, we will certainly consider and help you out.”
 
He also said that SMEs have a significant role to play for India’s economy to reach the goal of $5 trillion set by the Prime Minister.
 
“Today we have challenge before us as to how to increase exports and keep the balance of payment in India’s favour, MSMEs can play a great role in this regard, but as you know, economies are closed and competitive, we have to increase production, improve the quality to compete with rest of the world,” said Mr Parkash.
 
Addressing the industry he further said, “Government is with you, for you and to make India great, to increase the influence of India in world, you can play a big role, we can coordinate our efforts, whatever government can do, will certainly do for you.”
 
In her address at the ASSOCHAM conference, Ms Sangeeta Godbole, director general, Services Export Promotion Council (SEPC) said that definition of MSME needs to be changed.
 
“The new definition of MSME regarding annual turnover, what we classify as medium up to Rs 250 crore when you go out in the world to export, you are not even nano,” said Ms Godbole.
 
“Therefore, we need to change this definition and especially when we are going to link export incentives, MSME Ministry gives a lot of incentives, if these are to be linked to certain criteria, it certainly cannot be an overall turnover of Rs 250 crore,” she stated.
 
She further said, “We are taking up this with ministry today itself in the afternoon, and this is something I would like to say here and request everybody’s support for this.”
 
Addressing the gathering, Prof. Manoj Pant, director, Indian Institute of Foreign Trade (IIFT) talked about the future in the terms of need for MSMEs to change their thinking over the next 5-10 years and focussed on definition, importance and general role of MSMEs in the economy.
 
On the occasion of UN MSME Day, ASSOCHAM President, Mr Balkrishan Goenka said that MSMEs are at the core of India’s economic transformation and are an important driver of employment and growth, thus, unlocking opportunities for MSMEs to participate more actively and successfully in globally would allow domestic enterprises at the grass root level to benefit from closer economic integration.
 
Lauding the government for taking right steps and measures to facilitate the growth of MSME sector, Mr Manguirish Pai Raiker, chairman, ASSOCHAM National Council on MSME said that the sector has proved itself by providing quality products.
 
He also urged the government to introduce more reforms to promote and strengthen India’s MSME sector.
 
 
About ASSOCHAM:

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 www.assocham.org
 
For further details, please contact:
 
Manju Negi
AVDHESH SHARMA    
ASSOCHAM
ASSOCHAM    
011-46550509; +919810910911
011-46550508; +918527639419

 

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