AIAI Welcomes the Amendment of Companies Act for MSMEs

Timely credit flow will give impetus to growth of the MSMEs. Amendment in Companies Act is expected to bring great reform for Indian MSMEs, says Mr Vijay Kalantri

MUMBAI: "We welcome the initiative taken by the Union Finance Minister, Mr. Arun Jaitley to amend the Companies Act to Ease of fund flow to the Micro, Small and Medium Enterprises (MSMEs) which is termed as the backbone of the Indian economy,  as timely and adequate credit flow will help and give impetus to growth of the small scale sector," said Mr. Vijay Kalantri, President, All India Association of Industries (AIAI).

Mr. Kalantri further added that the launch of MSME Databank Portal and Online Finance Facilitation Web Portal will further boost the morale of the MSMEs. We hope the intention of the Finance Minister to ease fund flow to MSME shall be implemented in letter and spirit.