BENGALURU: The Central government is actively addressing the challenges faced by micro- and small-scale industries with a series of initiatives aimed at bolstering the sector, said Union Minister of State for MSME and Labour & Employment Shobha Karandlaje on Sunday.
At an interaction organised by the Karnataka Small-Scale Industries Association (KASSIA), she also gave a summary of the measures taken by the ministry to boost the MSME sector in the country. The Association submitted a comprehensive memorandum on behalf of MSMEs in the state.
Some of the announcements made by the minister included a proposal to establish a Centre of Excellence for upskilling by the National Small Industries Corporation (NSIC) in Peenya, potential inclusion of KASSIA in the National Board for MSMEs and the rollout of four wage codes to form a National Wage Board.
KASSIA president MG Rajagopal stressed on the need for a holistic approach to ensure MSMEs’ survival in the current economic climate. The memorandum highlighted several issues, such as the need for affordable technology, solar power subsidies and reforms in ESIC and EPFO policies. KASSIA also advocated for lower interest rates on MSME loans and increased credit guarantee coverage to support business growth.
Industry leaders, office-bearers and MSME representatives were present.