Nitin Gadkari emphasizes on need of policy to help micro, small businesses

Shri Gadkari invited suggestions to develop a model to help and finance these socially, economically and educationally backward entrepreneurs.

Union Minister for Micro, Small and Medium Enterprises and Road & Transport Shri Nitin Gadkari emphasized on the need of a policy or a model which can help micro/small businesses/works like a fisherman, ferry walas, Rickshaw pullers, vegetable vendors, poor, self-help groups etc. financially. He was addressing 'Pan IIT Global E-Conclave on reimagining MSMEs and Livelihoods' late yesterday through video conference.

He said that most of the population in the country is involved in very small enterprises like fishing, Bee-keeping, Bamboo production etc. and are economically and socially backwards and lack sufficient financial support for them. They are hard-working, skilled, talented and honest but due to lack of finance, they can not do any value addition in their businesses/works. With a little financial, technological and marketing support they can grow their business/work which in turn will definitely boost employment opportunities in Rural, Agricultural and Tribal areas and will also give strength to our GDP.

Shri Gadkari invited suggestions to develop a model to help and finance these socially, economically and educationally backward entrepreneurs. He said that this model should be transparent, corruption-free, IT-enabled with less procedural hassles and needing least permissions etc. He expressed hope that the model when approved by NITI Ayog, Finance Ministry, can support a lot of enterprises involved in bamboo, honey production, alternative fuels and other areas. Noble Peace Laureate Prof. Muhammad Yunus, founder- Grameen Bank, Bangladesh also shared his vision during the discussion in a video conference.

(With Inputs from PIB)