Loans Upto Rs 45000 Crore Guaranteed by Govt. MSME Sector: AK Panda, Secy MSME Ministry

With a view to increase the flow of assistance to MSME sector, the central government would stand guarantee for loans up-to Rs 45,000 crore in 2018-19, said Union MSME Secretary Arun Kumar Panda.

He said the guarantee would strengthen the MSME sector, create more job opportunities and increase number of units in the country.

Addressing a gathering at a MoU signing ceremony between the Tata Steel and the Central Tool Room and Training Center (CTTC) Bhubaneswar, Panda said till last year Rs 5 lakh credit linkage was provided to various MSME units by the Union government.

Regarding more loan assistance to MSMEs, he said discussions were already held with various industrial organizations and the officials of the Odisha government. “We understood the criticality of credit availability. For MSMEs we would like to create ecosystem which can ultimately add value to the entrepreneurs. Ministry of MSME is committed towards the interests of MSMEs and credit is a major area which requires attention.” Says Mr. Panda.

Discussion was also held about finding good market for the MSME products and how to provide more facilities MSME units under GST, Mr. Panda added.

Besides, Ministry is giving importance to set up industrial clusters in 117 undeveloped and aspirant districts of the country including ten districts in Odisha, Mr. Panda added.

With 10 CTTC centers at present, the centers at Bhubaneswar, Aurangabad and Mumbai have been accorded international recognition and 10 more would be opened in second phase, Union Secretary added.

Out of which the MSME ministry is considering setting up CTTC in each aspirant district of Odisha, Panda said, adding that discussion was also on to set up small industrial clusters in coastal districts of Odisha.

Also, ministry is planning to set up small perfumed industrial units in Ganjam where Kewda flower are cultivated in large scale, Panda added.