According to news reports, Union Minister for Micro, Small and Medium Enterprises (MSMEs), Nitin Gadkari, stated that the ban on entry of corporates and private players in the MSME sector has been lifted to pave way for the formation of 700 clusters in order to reduce dependence on imports as well as for job creation.
The minister has urged the Indian industry to join hands in bringing innovative ways of financing, adding that there was no ‘trust deficit’ between industry and the government, which has been constantly doing away with ‘red-tapism’.
He quoted, "Red-tapism has been removed and transparency is there," adding that quick permission will be given to private sector players to engage with MSMEs.
He also said that technology centres to enhance skills are also being planned so that "anyone can set up clusters anywhere.”
While addressing 100 CEOs from across the country at the CII National Conference, the MSME minister also said that to promote innovation, a Bank of Idea and Innovation was on the anvil.
The minister further quoted, "Government is investor-friendly and wants to support industry for employment, growth and exports. It is constantly striving to usher in more reforms and industry should come forward to be a partner in this journey of growth. Private sector can work with us and I need your support. We have sought proposals from the industry for clusters.”
Gadkari also said that large enterprises will be encouraged to build an ecosystem of ancillaries and vendors so that MSMEs can contribute to produce at home.
He further added, “Government will support export of goods that MSMEs can produce, engage in skill development by building industrial training institutes in all areas.”
The minister emphasized that the need of the hour is to move from import substitution to export promotion and this could lead to further progress of MSMEs.
Nitin Gadkari had also a statement on the similar lines during the first interaction after being elected as the MSME minister. He had quoted, ‘the ministry will work with the Ministry of Commerce and Industry to look at the possibility for MSMEs to locally manufacture goods which are currently being imported by India.’