India Development News & Foreign Investment Opportunities

Gadkari updates Rajya Sabha on initiatives for MSMEs

MSME Sambandh portal launched

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MSME Sambandh portal launched

 

MSME

 

The Government has taken various initiatives to enhance the competitiveness of Micro, Small and Medium Enterprises (MSMEs) through schemes such as Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS), Micro and Small Enterprises – Cluster Development Programme, Procurement and Marketing Support.

These initiatives also include support for MSMEs to participate in international exhibitions, trade fairs, conferences, summits and workshops, said Nitin Gadkari, Minister for Micro, Small and Medium Enterprises in written reply to a question in Rajya Sabha on 3 Dec 2019.

MSMEs contribute 29.7% of GDP and 49.66% of Indian Exports.

Under the Public Procurement Policy notified by the Ministry, the Central Ministries, Departments and Central Public Sector Enterprises (CPSEs) have to make at least 25% of annual procurement from Micro and Small Enterprises (MSEs) including 4% from MSEs owned by SC/ST and 3% from MSEs owned by Women.

To monitor the progress of procurement made by the CPSEs and Government Departments, the Ministry has launched “MSME Sambandh portal”, he said. fiinews.com

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