Special care, Guidance and financial support needed for MSME sector. 'Laghu Udyog Barathi' National Joint Secretary suggests at MSME board meeting.
The 17th MSME board meeting held at Delhi on March 24(Wednesday). Laghu Udyog Barathi, National Joint General Secretary, National Board Member, MSME. R.Mohana Sundaram participated and discussed various points for MSME growth.
During the meeting he said, "Being a Board Member & Senior Office bearer of Laghu Udyog Barathi, I feel we have responsibility to improve MSME entrepreneurship in India.
As we are all aware MSME is backbone of Indian Industry, 90% of MSME Segment are Entrpreneurs with an aggregate annual turnover of less than Rs.60 Lacs. These TINY entrepreneurs are so small that they don’t fit in to “Micro” definitions of MSME, so they are mostly unheard and neglected in policies.
Today I suggest measures to improve the contributions, business volume, quality and overall output of these TINY entrepreneurs.
With changed GLOBAL scenario and push for Atmanirbhan by the Govt Of India, if SPECIAL Care, Guidance and support in terms of EXCLUSIVE POLICIES, Technology, Finance are given to these TINY Entrepreneurs, Indian MSME will grow multifold and will encourage/motivate more people to become a job provider and not Job Seeker.
• Our study shows, these TINY groups of Entrepreneurs have least access to Govt Schemes, loans etc. They are mostly family run with own money or borrowed from money lenders at higher cost. So they should be given top most priority in lending and Govt Procurement Policies.
• All loans to TINY units may be given thru CGTMSE ONLY and hence exempted under SARFAESI ACT.
• Rate of Interest for TINY units should be at par with Agri loans and NPA norms should be revised to 180 days from 90 days.
• We suggest these TINY Entrepreneurs be covered under ESI Schemes and Recommendation for Social Security Cover.
• Special Micro/Tiny Clusters be developed for up-liftment of Rural Cottage Industries.
• TINY/MICRO units established over 10 years to be treated as start up and made eligible for all Schemes of DIC/MSME." He said.
Chairperson, Narayan Tatu Rane, Hon Vice Chairperson Bhanu Pratap Singh Verma, Hon Parliament Members, MSME Department Secretaries and Officials from various departments participated.
During the meeting he said, "Being a Board Member & Senior Office bearer of Laghu Udyog Barathi, I feel we have responsibility to improve MSME entrepreneurship in India.
As we are all aware MSME is backbone of Indian Industry, 90% of MSME Segment are Entrpreneurs with an aggregate annual turnover of less than Rs.60 Lacs. These TINY entrepreneurs are so small that they don’t fit in to “Micro” definitions of MSME, so they are mostly unheard and neglected in policies.
Today I suggest measures to improve the contributions, business volume, quality and overall output of these TINY entrepreneurs.
With changed GLOBAL scenario and push for Atmanirbhan by the Govt Of India, if SPECIAL Care, Guidance and support in terms of EXCLUSIVE POLICIES, Technology, Finance are given to these TINY Entrepreneurs, Indian MSME will grow multifold and will encourage/motivate more people to become a job provider and not Job Seeker.
• Our study shows, these TINY groups of Entrepreneurs have least access to Govt Schemes, loans etc. They are mostly family run with own money or borrowed from money lenders at higher cost. So they should be given top most priority in lending and Govt Procurement Policies.
• All loans to TINY units may be given thru CGTMSE ONLY and hence exempted under SARFAESI ACT.
• Rate of Interest for TINY units should be at par with Agri loans and NPA norms should be revised to 180 days from 90 days.
• We suggest these TINY Entrepreneurs be covered under ESI Schemes and Recommendation for Social Security Cover.
• Special Micro/Tiny Clusters be developed for up-liftment of Rural Cottage Industries.
• TINY/MICRO units established over 10 years to be treated as start up and made eligible for all Schemes of DIC/MSME." He said.
Chairperson, Narayan Tatu Rane, Hon Vice Chairperson Bhanu Pratap Singh Verma, Hon Parliament Members, MSME Department Secretaries and Officials from various departments participated.