Govt keen to revise MSME definition: Media Report

Posted By: Religare
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Govt keen to revise MSME definition: Media Report
In order to keep micro, small and medium enterprises (MSMEs) parallel to the changing business environment, MSME Minister Kalraj Mishra said the government is keen to revise the definition of MSMEs.

Mishra, who was here to launch the Online Finance Facilitation Centre for SMEs supported by CII, said his Ministry was reworking the definition of MSMEs.

The Minister emphasised upon the need for skill development and an integrated approach to create opportunities for the common people and young entrepreneurs. He mentioned that this will not only build confidence, but also lead to self-sustainability resulting in self-development and nation building.

"As there are over four lakh unregistered enterprises, how to bring them into the mainstream is what needs to be worked upon. This would need identification of several new sectors like defence and aviation," Mishra said.

The Facilitation Centre has been established to provide advisory and credit facilitation support to SMEs. The Centre will also conduct outreach programmes in partnership with the Ministry of MSME and the partnering Financial Institutions across the country to create awareness among SMEs on the avenues for accessing finance.

Read more about: msme, kalraj mishra
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