PC Sarangi, MoS MSME Appreciates PM Modi's Commitment for MSME Development

Appreciating Prime Minister Narendra Modi and centre's initiative for Micro, Small and Medium Enterprises (MSMEs) amid COVID-19 pandemic, Mr. Pratap Chandra Sarangi, MoS, MSME said that the Prime Minister has always extended a helping hand and recognized the potential of MSMEs.

Mr. PC Sarangi, said this during an interaction with the Managing Committee Members of PHD Chamber of Commerce and industry.

He further said that the government is closely monitoring the situation in consultation with banks so that relief measures announced by the government are effectively percolated at ground levels especially the transmission of Repo Rate cuts to businesses/consumers in terms of reduced interest rates.

''We should conduct more intensive research and development domestically, with strategic coordination between industry, academia and government to achieve the important mission of Atmanirbhar Bharat and we should Go Vocal for Local,'' he added.

Citing some of Swami Vivekananda Ji's sayings, Sarangi stated that India should focus on becoming a producer rather than being a trade merchant.

Commenting on Covid-19, he stated that it has adversely affected the poor people and the government is taking proactive measures and providing financial stimulus to meet the overall national objectives of generating employment, reducing poverty and addressing rural-urban migration.

''Government has always recognised the importance of wealth creators as they generate employment opportunities and utilize resources in an optimal manner for promoting socio-economic development in the country,'' he added.

Later the Minister also said that ‘Waste Management to Wealth Creation’ is the motto which can be achieved through technology.

He graciously addressed the concerns of the members of PHDCCI and noted suggestions provided by PHD Chamber and its senior managing committee on various aspects of the economy, trade and industry and assured full support of the government in addressing the issues and challenges faced by the MSME sector.

''The pivotal role played by the MSMEs in nation building and going forward the potential and opportunities seen with newer technologies, like Artificial Intelligence (AI), which can expand the business opportunities for MSMEs,'' said Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry.