Multi-dimensional interventions required to boost SMEs sector: Govt
The Ministry of Finance and the Ministry of Micro, Small and Medium Enterprises, along with several other ministries, are taking steps to enable growth of various industries, clusters of SMEs.
The government said Tuesday that multi-dimensional interventions are required to boost the domestic small and medium enterprises (SMEs) sector.
"We are aware of the problems faced by the SMEs and these cannot be addressed by any single ministry. The intensive drive undertaken by the government recognises the need for multi-dimensional interventions required for the SMEs," Union Minister for Steel Chaudhary Birender Singh said addressing an event here.
The event was attended by over 100 members of the SMEs sector.
The Ministry of Finance and the Ministry of Micro, Small and Medium Enterprises, along with several other ministries, are taking steps to enable growth of various industries, clusters of SMEs including textile, chemical and fertilisers, health, pharmaceutical and food processing industries, Singh said.
He also said there are immense business opportunities for small-scale businesses in the country and the government realises the importance of the SMEs sector and is committed to empowering the industry.
"Various schemes and programmes are also being implemented. Their aim is to augment the credit delivery, improve infrastructure, strengthen marketing and utilise technology for SMEs," he added.
When asked about the impact of the US decision to withdraw duty benefits under the Generalized System of Preferences (GSP) programme on steel exports, he said: "We should not be jittery on this account."
US President Donald Trump has said he intends to end the preferential trade status granted to India and Turkey, asserting that New Delhi has failed to assure America of "equitable and reasonable" access to its markets.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
Go Digit IPO: Should you subscribe Virat Kohli, Anushka Sharma-backed issue? Here's what Anil Singhvi suggests
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
Gold and Silver rate today (May 16, 2024): Yellow metal futures subdued; white metal hits record high breaches Rs 87,000 mark
10:18 PM IST