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Nitin Gadkari awards MSMEs for industrial excellence

By The Machinist Team,

Added 28 February 2020

Better-performing MSMEs should go into capital market and get investments from the public that will pump up share value, says Gadkari.

File picture of Nitin Gadkari

Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises (MSMEs) and Road Transport & Highways has stated that the government is working on reducing restrictions in order to increase ease of doing business in MSME sector. Praising the contribution of MSME industries in the economic development of the country, Gadkari said that there is a huge potential in the sector for creating more jobs, contributing to more export earning by the sector. He said that excellence shown by awardees will motivate entrepreneurs all over the country to strive for higher standards of performance and will be emulated by many more entrepreneurs.
The Minister also stated that government is working on enhancing availability of finance to the sector and the banks have done better in terms of providing loans this year.  He also suggested that better performing MSMEs should go into capital market and get investments from the public which will increase their share value providing returns to the investors and making availability on investments to such an enterprises.
Gadkari said that such recognition provides greater motivations to those who render excellent performance.  He assured that Government stands by the MSME sector and will work towards their betterment. Gadkari said, "Considering the importance of your contribution to the economy, exports and employment, I believe that the well-being of the country can be secured through the well-being of the MSMEs. It is in this light that I have asked my officers to design the Schemes and initiatives to be growth oriented, inclusive and environment friendly". He added that "we are in the process of redirecting our schemes towards empowerment of MSMEs through creation of infrastructure, enabling access to finance, technology, market and skilling. All this has to be done in an atmosphere conducive to ease of doing business".
According to Minister of State for MSME & Ministry of Animal Husbandry, Dairying and Fisheries Pratap Chandra Sarangi, MSME sector is playing an important role in the development and growth of India. He called upon the winners to motivate more people to turn into employers and create more valuation in the MSME sector. However, the current scenario entails greater direct exports by the MSME enterprises.



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