Comprehensive Policy for MSME Sector Soon

Govt likely to come out with comprehensive policy on MSME sector, which will be drafted by a high-powered committee.

Published: 09th January 2016 04:03 AM  |   Last Updated: 09th January 2016 04:03 AM   |  A+A-

NEW DELHI:  The government is likely to come out with comphehensive policy on the micro, small and medium enterprise sector soon, which will be drafted by a high-powered committee to be headed by former Cabinet Secretary Prabhat Kumar.

Kalraj Mishra, Union Minister for Micro Small and Medium Enterprises said, “the committee will submit its report as early as possible.” At the moment there is no integrated approach for the development of MSME despite the fact that it accounted for 40 per cent of India’s manufacturing and 45 per cent of exports.

Once the MSME draft policy is readied by Kumar, it will be open for public debate  before finalisation, Mishra said. He added that the decision to have a comprehensive policy was taken after MSME board meeting in which 83 small scale industry associations participated from all over the country.

“There was crying need for such a policy. The idea is to integrate various policies pertaining to the sector and come out with one comprehensive policy,” Mishra added.

The Prabhat Kumar committee will also take into consideration all the suggestions, which have already been made by the small scale industry associations.

The associations have emphasised the need for integration of the MSMEs requirement of raw material, capital, manufacturing and marketing. These will be critical inputs in the MSME policy formulation, Mishra said.

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