Coimbatore: A petition has been sent to Union Minister for MSMEs, Nitin Gadkari on behalf of the Tamilnadu Association of Cottage Industries.
Coimbatore: A petition has been sent to Union Minister for MSMEs, Nitin Gadkari on behalf of the Tamilnadu Association of Cottage Industries.
James, the organiser of this federation said, “The union government has now announced a change in the limits for micro, small and medium enterprises. The small business limit, which was earlier Rs 25 lakh, has now been raised to Rs 1 crore. Similarly, the limit for small business investment has been raised from Rs 5 crore to Rs 50 crore. The number of micro and small enterprises already declared by the government in India is 85%.
The government has been offering few schemes and incentives to small entrepreneurs. With these announcements currently being made, the identities of micro and small businesses will be lost and thus it will make a huge dent in the development of such industries. In particular the industries that have already lost their identity because of the UDHYOG Aadhar. In this situation, the change in micro, small and medium enterprises investments brought by the government will actually lower the identities of micro and small enterprises.
The central government should adjust the investment levels currently announced and the levels announced for production. On behalf of the Coimbatore Confederation of Industries, small businesses are expected to invest Rs 1 crore and produce Rs 5 crore, while small businesses will invest Rs 5 crore and produce Rs 10 crore.
We are keeping the demand to the government should declare a limit of up to Rs. 25 lakh investments and one crore rupees production to protect the cottage industries.
The central government should also appoint a separate minister for cottage, micro and small businesses. In addition, the Central Government and private companies must obtain at least 50% of the orders from cottage, micro and small enterprises.”
These are challenging times as policy changes and economic situations are rapidly changing and these changes have affected both the smaller and larger enterprises alike.
James, the organiser of this federation said, “The union government has now announced a change in the limits for micro, small and medium enterprises. The small business limit, which was earlier Rs 25 lakh, has now been raised to Rs 1 crore. Similarly, the limit for small business investment has been raised from Rs 5 crore to Rs 50 crore. The number of micro and small enterprises already declared by the government in India is 85%.
The government has been offering few schemes and incentives to small entrepreneurs. With these announcements currently being made, the identities of micro and small businesses will be lost and thus it will make a huge dent in the development of such industries. In particular the industries that have already lost their identity because of the UDHYOG Aadhar. In this situation, the change in micro, small and medium enterprises investments brought by the government will actually lower the identities of micro and small enterprises.
The central government should adjust the investment levels currently announced and the levels announced for production. On behalf of the Coimbatore Confederation of Industries, small businesses are expected to invest Rs 1 crore and produce Rs 5 crore, while small businesses will invest Rs 5 crore and produce Rs 10 crore.
We are keeping the demand to the government should declare a limit of up to Rs. 25 lakh investments and one crore rupees production to protect the cottage industries.
The central government should also appoint a separate minister for cottage, micro and small businesses. In addition, the Central Government and private companies must obtain at least 50% of the orders from cottage, micro and small enterprises.”
These are challenging times as policy changes and economic situations are rapidly changing and these changes have affected both the smaller and larger enterprises alike.