Ever since he was tasked with revamping India’s MSMEs and bringing them at par with their global counterparts, Kalraj Mishra, Union Minister for Micro, Small and Medium Enterprises (MSMEs) has introduced many dynamic schemes. In an interaction with The Dollar Business, Mishra shares his plans for enhancing the sustainability and competitiveness of a sector that was largely ignored for long.
TDB: What role do you envisage the MSME sector playing in the overall economic growth of India?
Kalraj Mishra (KM): The world over, micro, small and medium enterprises (MSMEs) have been accepted as the engine of economic growth and equitable development. In India too, I believe the pace of development can be accelerated by promoting MSMEs. Ensuring competitiveness of India’s MSMEs is critical as it will contribute to the overall growth of the manufacturing sector as well as the country’s economy. Towards that goal, we must quickly set the pace right for industrialisation and export-fuelled growth to make a mark internationally.
Going forward, I assure you that MSMEs will get all possible assistance and technological support under central schemes. The country has the potential to emerge as a model nation when it comes to promoting the MSME sector. And, for this, we must continue setting up market mechanisms and intermediaries to develop the capacity of MSMEs to facilitate their technology, marketability, backward and forward linkages, etc.
I must tell you that under the able leadership of Prime Minister Modi, we are proactively working in this direction. I urge our entrepreneurs to contribute their bit to help turn this great nation into a global manufacturing hub.
TDB: Revision of investment caps defining MSMEs, has been pending in the Parliament for quite some time now. Can you share the status with us?
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