MSME Ministry re-orients various schemes to support small businesses

The Micro, Small and Medium Enterprises Ministry has re-oriented its various schemes to support small businesses and would roll them out very soon, a senior official said Friday.

"So we have re-oriented our schemes and very soon we will roll them out one by one and in this entire ecosystem we should invest, co-invest together," Additional Secretary in the MSME Ministry, Ram Mohan Mishra, said at an Assocham conference here.

He said that while risk comes from various factors like governance, lack of logistics, the dearth of proper technology, improper design and packaging, de-risking businesses and value chains are the most important thing.

"We have set up a social enterprise division, which is not to promote charity alone, that is also needed, but to build up this coalition so that micro enterprises live with social enterprises," he stated.

He added that through its schemes, the government is committed to boosting the capacity of MSME industry in order to reduce the load on big entrepreneurs.

Mishra also said that India can reclaim its position of being major global exporter provided all businesses be it big, medium, small and micro enterprises work collectively, become more efficient and productive.

He said that while MSME Ministry has started networks like Udyam Saathi and Udyam Sakhi to help out small businesses, industry chambers need to play a more significant role to spread awareness to institutionalise these helplines.