MSME and Small scale industries (SSI) are very important plays vital role in the economic growth of the Company because it helps in increasing employment and economic development of the country. These enterprises account for more than 40% of the total production of goods and services in India. They are one of the main reasons for the growth and strengthening of the economy. the Ministry of Micro, Small and Medium Enterprises (MSME) implements various programmes/MSME schemes for the development and promotion of MSMEs across the country.
The Government of India has been really proactive to ensure that all the benefit of these MSME schemes reaches to the MSMEs in time. To provide immediate relief to the MSME sector, various announcements (in addition to the various MSME schemes) have been made under the Atmanirbahar Bharat Package also.
The Government has announced various relief measures for several sectors under the Aatma Nirbhar Bharat Abhiyan and has taken a number of initiatives to support the MSME Sector in the country, especially in Covid-19 pandemic situation. Some of them are:
1. Rs 20,000 crore Subordinate Debt for Micro Small & Medium Enterprises(MSMEs).
2. Rs. 3 lakh crores Collateral free Automatic Loans for business, including MSMEs.
3. Rs. 50,000 crore equity infusion through MSME Fund of Funds.
4. New revised criteria for classification of MSMEs. Retail and wholesale trades are also included under MSMEs.
5. New Registration of MSMEs through ‘Udyam Registration’ for Ease of Doing Business.
6. No global tenders for procurement up to Rs. 200 crores.
The Ministry of MSME implements various schemes and programmes for growth and development of MSME Sector in the country. These schemes and programmes include:
A Help-Desk & Facilitation Centre has been set up in Directorate General of Trade Remedies, which deals with the trade remedial measures, including anti-dumping measures.
Its functions inter-alia include:-
Ministry of Micro, Small and Medium Enterprises (MSME) through its MSME-Development Institutes (DI) situated in all States, facilitates MSMEs to export from Domestic Tariff Area (DTA) and Special Economic Zone (SEZ).
MSMEs and SSIs have played crucial role in generating huge employment opportunities at comparatively lower capital cost than large industries. Moreover, they have helped in industrialization of rural & backward areas.
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