Revitalizing MSMEs: Minister Piyush Goyal's Vision for Alternate Financing

Commerce and Industry Minister Piyush Goyal urges industries to address bank credit issues for MSMEs and discusses possible alternate financing models. He highlights the vital role of MSMEs in industrial townships. Recent government efforts to develop industrial parks are also mentioned, alongside political updates on BJP's election victories.

Commerce and Industry Minister Piyush Goyal has called upon industries to highlight specific challenges they face in obtaining bank credit, particularly for MSMEs. Addressing the media on Thursday, Goyal expressed the government's willingness to explore alternate financing models to ease credit access for these crucial enterprises.

In light of the declining bank credit to the MSME sector, despite a rise in exports, Goyal emphasized the need for targeted feedback from industries. This, he believes, will allow for constructive dialogue with bankers and potentially lead to policy adjustments.

Additionally, the minister underscored the strategic importance of industrial zones dedicated to MSMEs and touted the success of recent elections in Maharashtra and Haryana, where the ruling BJP secured decisive victories amid claims of opposition's divisive politics.

(With inputs from agencies.)