Nitin Gadkari lifts ban on entry of corporate and private players in MSME clusters

The move is intended to pave the way for the formation of 700 clusters in order to reduce dependence on imports as well as for job creation.
0 CLAPS
0

Union Minister for Micro, Small and Medium Enterprises (MSMEs), Nitin Gadkari, on Friday said that the ban on entry of corporates and private players in the MSME sector has been lifted to pave way for the formation of 700 clusters in order to reduce dependence on imports as well as for job creation.

He also urged Indian industry to join hands in bringing innovative ways of financing, adding that there was no "trust deficit" between industry and the government, which has been constantly doing away with "red-tapism".

Addressing 100 CEOs from across the country in their first interaction with the new government at CII National Conference, Gadkari also said that to promote innovation, a Bank of Idea and Innovation was on the anvil.

"Government is investor-friendly and wants to support industry for employment, growth and exports. It is constantly striving to usher in more reforms and industry should come forward to be a partner in this journey of growth," Gadkari said.

Defining MSME as a sector with huge growth and employment potential, the minister said, "Private sector can work with us and I need your support. We have sought proposals from the industry for clusters.”

The minister added that the need was to move from import substitution to export promotion and this could lead to further progress of MSMEs.

He had made a similar statement when he took charge of the MSME Ministry earlier this month. At that time, Gadkari had said the ministry will work with the Ministry of Commerce and Industry to look at the possibility for MSMEs to locally manufacture goods which are currently being imported by India.

Gadkari also said that large enterprises will be encouraged to build an ecosystem of ancillaries and vendors so that MSMEs can contribute to produce at home.

“Government will support export of goods that MSMEs can produce, engage in skill development by building industrial training institutes in all areas,” he said.

"Red-tapism has been removed and transparency is there," he said, adding that quick permission will be given to private sector players to engage with MSMEs.

He also said that technology centres to enhance skills are also being planned so that "anyone can set up clusters anywhere.”

Last week, the MSME ministry's additional secretary Ram Mohan Mishra had said the ministry is planning to set up enterprise facilitation centres across the country to make MSMEs more competitive and help them integrate with big enterprises. 


Latest

Updates from around the world