Union MSME Minister Kalraj Mishra has said the government is planning to formalise the relationship with prominent MSME associations in order to be their partners in the growth process of the sector in India.
He said the associations would play an important role in various aspects of policy making for MSMEs in the days to come, according to a CII release.
After highlighting the role played by MSMEs in the economic landscape of the country, he emphasised the dual role that the Ministry of MSME plays in assisting the sector in terms of providing them with a supportive framework through policy advocacy and by bringing about institutional reforms in areas of policy vacuum including taxation reform, regulatory systems’ reforms and finance provisioning reforms.
Highlighting some recent initiatives of the Prime Minister Narendra Modi, Mishra said the most significant measures include the Make in India initiative, Skill India for skill development and Digital India for ICT interventions. He illustrated the need for identifying important verticals within this sector with differing interests with regards to government’s policy interventions and highlighted the merits of adopting a focused approach to benefit these verticals.
He further said that the Ministry of MSME are in the process of a web based online registration system of EM (Entrepreneurs’ Memorandum) of MSMEs in collaboration with the state governments.