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Business Economy

MSMEs in forefront of manufacturing, export and job creation: Giriraj Singh

MSMEs in forefront of manufacturing, export and job creation: Giriraj Singh

New Delhi, Feb 5 (UNI) Union MSME Minister Giriraj Singh on Tuesday said the endeavour of his ministry was to constantly upgrade the technologies adopted by MSMEs to churn out quality products in order to make them marketable and competitive.

Addressing the Stakeholders Consultation Meeting, he said MSMEs were today in the forefront of manufacturing, export and employment creation.

This, he said, was made possible through measures such as increasing the limit for provision of collaterals free loans to Rs two crore, technology upgradation, cluster development vendor development and schemes aimed at extended financial benefits to SC-ST entrepreneurs.

The Minister said as a result of the various initiatives under the National Scheduled Caste-Scheduled Tribe Hub (NSSH) launched in October 2016, the procurement of CPSEs from SC-ST MSEs had increased significantly to 0.52 per cent from 0.04 per cent four years ago.

He also mentioned that while the achievement target is 4 per cent, the Ministry of MSME and all CPSEs are on the right path towards achieving it. Mr Singh urged CPSEs to raise their procurement from MSMEs and break the "barrier" of 25 per cent and strengthen their 'sambandh' with MSMEs order to bring about inclusivity and growth.

On the occasion he also felicitated select Central Public Sector Enterprises (CPSEs) for their exemplary work under the Public Procurement Policy for promotion of SC/ST entrepreneurs.

As many as 14 CPSEs for the Maharatna, Navratna, Miniratna and general categories were awarded based on the parameters available on the Public Procurement Portal, MSME Sambandh.

The "Stakeholders Consultation Meeting under National SC/ST Hub - Creating Ecosystem for SC/ST Entrepreneurs", organised by the Ministry of Micro, Small and Medium Enterprises in association with the Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises and FICCI witnessed participation from over 70 CPSEs from across the country.

Mr Singh reiterated that the Public Procurement Policy wherein all Central ministries, departments and PSEs have to procure a minimum 25 per cent of the total annual purchase or services from MSEs. Of the annual requirement of 25 per cent, 4 per cent is earmarked for units owned by SC-ST entrepreneurs.

In addition, 358 items are reserved for exclusive purchase from the MSEs.

This was followed by felicitations of all award winners by the Minister. Winners in the Maharatna Category included Indian Oil Corporation Limited, Bharat Heavy Electricals Limited, Bharat Petroleum Corporation Limited. Navratna Category winners included NMDC Limited, NBCC (India) Limited, Bharat Electronics Limited. In the Miniratna (I and II) category, National Small Industries Corporation Limited, MSTC Limited, MMTC Limited, National Film Development Corporation of India, PEC Limited. In the General Category, ECGC Limited, Food Corporation of India, Jute Corporation of India Limited were awarded.

UNI SW SY 1821

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