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MSME Ministry re-orients schemes to support small enterprises

October 15, 2018

The MSME ministry has re-oriented various schemes to support small businesses, revealed Ram Mohan Mishra, Additional Secretary, Micro, Small and Medium Enterprises (MSME), at a recent Assocham Conference.

Mishra said these will be rolled out soon and explained that these schemes will help the government boost the capacity of the MSME industry and reduce the load on big entrepreneurs.

He added, “Our schemes have been re-oriented and we will roll them out soon, one by one, and in this entire ecosystem we should co-invest.” Besides this, the ministry has also set up a social enterprise division, which not only promotes charity but also builds a coalition so that micro enterprises and social enterprises can co-exist, according to him.

In this context, he added that de-risking businesses and value chains is critical due to risks from “various factors such as governance, lack of logistics, dearth of proper technology, improper design and packaging.”

Mishra also stated that if “big, medium, small and micro enterprises work collectively and become more efficient and productive,” India can once again become a “major global exporter”.

“The MSME Ministry has initiated networks such as Udyam Saathi and Udyam Sakhi to help out small businesses, but industry chambers should play a more significant role to raise awareness to institutionalise these helplines,” he added.

This initiative comes two months after the ministry launched MSME Insider, a monthly e-newsletter, which builds awareness around latest news and important events, programmes, policies and schemes related to MSMEs.

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