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More leeway for States on MSME policy
Centre chalking out a model national policy on supporting Covid-hit MSMEs; MSME Ministry working on developing a marketing platform and a distribution network covering States, inter-state, and international business promotion for a systematic value chain
New Delhi: The government is planning a slew of measures, including a model national policy, to prop up the micro, small and medium enterprises (MSMEs), which suffered grievously during the Covid-19 pandemic and the lockdowns it triggered. The model national policy would be framed in such a manner that States could accordingly chalk out their own policies for MSMEs. This will help build a suitable alignment at State level, officials told Bizz Buzz.
Funds have been a perennial issue for MSMEs. The government has decided to review the framework for funding arrangements. On the anvil are incentives and concessions to promote competitive enterprises. The Ministry of MSMEs intends to develop a framework for a marketing platform and a distribution network covering States, inter-state, and international business promotion for a systematic value chain, officials said.
The interstate platform will be used for exhibitions, seminars, workshops, training and research to identify common issues, strategies, share experience and showcase best practices, they added. There will be stakeholder meetings to develop convergence, synergy, mutual learning and cooperation for higher efficiency and productivity.
This will help identify the MSME action agenda on specific inter-state initiatives such as Sagarmala, Bharatmala, The Delhi-Mumbai Industrial Corridor Project, and several other corridors at different places, officials said. The Ministry will also promote R&D activities and support incubation centres to accelerate development and transfer of affordable and modern technology, they added.
The Ministry of MSMEs will develop synergy with inter-ministry initiatives, especially with the Ministries of Food Procurement, Agriculture, Commerce, Industry, Housing & Urban Affairs, Rural Development, and Skill Development.
The Ministry of MSMEs will develop model bylaws, memorandums and norms for regulation of MSMEs in accordance with the MSME Amendment Act, 2020. The Ministry will also develop a network of research institutions in the area of MSMEs. Also on the agenda is a suitable tracking mechanism for speedy payments which are due to MSMEs.
