Government working on package for SMEs

NEW DELHI: The Ministry of Small Scale Industry (SSI) is in the process of drafting a major package to provide a competitive edge to the SMEs in the country.

In an interaction with CII National Council for Small Industry Suresh Chandra, additional secretary & development commissioner (SSI), said that this package would also aim at integrating a new export and marketing promotional scheme, which would help the industry export and market itself better.

Mr Chandra said that the ministry was working towards increasing the size of the industry and added that there is a need to go for technology upgradation and scheme utilisation in a big way.

The minister counted in budget proposals like increasing the subsidy component from 12% to 15% and increase of loan ceiling of SSI''s from Rs 40 lakh to Rs 1 crore and stated that these would go a long way in improving the competitiveness of the sector.

Mr Chandra said, "The need of the hour is to devise special ways to set up SME credit ratings, as it will facilitate the process of SSI lending."

He also allayed industry apprehensions about the Rs 10,000 crore SIDBI fund being non-operational and said that the fund will pick up and become fully operational very soon.

The regional representatives said that they were enhancing the sector by adopting a cluster approach, energy management, quality management and costs management.