Identify new products with global demand, says PM
The Production Linked Incentives (PLIs) has generated an investment of more than Rs.1.5 lakh crore, production of more than Rs.13 lakh crore and exports worth more than Rs.5 lakh crore, Prime Minister Narendra Modi told post-budget webinars on MSME sector via video conferencing on 4 Mar.
Fourteen sectors are getting the benefit of our) scheme with more than 750 units have been approved to undertaken their businesses under this scheme, he informed webinar participants.
“This shows that if our entrepreneurs get opportunity, they can move ahead in every new field,” underlined PM Modi.
“We have decided to launch 2 missions to promote manufacturing and export. We are focusing on better technology and quality products. And we are giving emphasis on skilling to reduce costs,” he shared the ongoing Government efforts in industrialization of India https://www.makeinindia.com/home/.
The Prime Minister also called on stakeholders present here to identify new products that have a global demand and that can be manufactured in India. “Then we should go to those countries with a strategy where there are export possibilities https://fieo.org/.”
He went on to underlined the importance of MSMEs. “The backbone of India’s manufacturing, our industrial growth is our MSME sector https://sbi.com.in/.”
He pointed out that the more than 6 crores of MSMEs have taken loans of about Rs.30 lakh crore, up from Rs.12 lakh crore 10 years ago https://www.nseindia.com/.
“We provided the facility to get a loan and also created a new type of loan system,” he added.
But from now on, the Government is to develop new modes for credit delivery. “Our effort should be to ensure that every MSME has access to low cost and timely credit https://www.bseindia.com/.”
He also underscored the importance of states being pro-business. The more the states promote ease of doing business, the greater number of investors will come to them. “Companies will come to invest in those states which come forward with progressive policies https://www.commerce.gov.in/.” Fiinews.com
