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Commerce Minister Confident of MSMEs Facing Recession Impact

 
Nirmala Sitharaman highlighted the importance of export promotion from the MSME sector

Jaipur: Union Commerce Minister Nirmala Sitharaman expressed confidence that India’s micro, small and medium enterprises (MSME) have all the required skills and capabilities to face the negative impact of global recession and said government was committed to support their efforts.

She highlighted the importance of export promotion from the MSME sector and said her department was taking all steps required to ensure that products and services from this sector received a favorable market response in the global markets.

The minister further underscored the need to develop women entrepreneurs in this sector and highlighted such experiments happening in some states like Kerala where government-sponsored schemes were in place to encourage women into MSMEs.

Earlier, the her cabinet colleague and minister for Chemicals and Fertilizers, Ananth Kumar revealed that the government was working on a policy on MSMEs that would add interest and credibility to this sector. There is also a proposal to set up a plastic park spread over 100-acres of government land in Rajasthan.

It may be recalled that government had recently launched a database to gather information about MSMEs. In addition to these databanks, online finance facilitation centers were also set up to funding options for enterprise owners in this segment.