MSMEs need no incentives but environment: CII
Micro and Small and Medium Enterprises need marketing support and guidance on adopting appropriate technology to remain in competition, according to an industry body.
By PTI |
NEW DELHI: Micro and Small and Medium Enterprises need marketing support and guidance on adopting appropriate technology to remain in competition, according to an industry body.
"The government needs to create an environment of promotion and competitiveness for MSMEs to prosper in a globalised economy rather than dolling out concessions," Confederation of Indian Industries (CII) said in a release today.
The environment can be created only when the government facilitate technological upgradation, better access to credit, monitoring and marketing assistance, it said.
The Small and Medium Enterprises Development Bill introduced in Parliament on May 25 this year to integrate SMEs in a single legal framework would help acquisition of new technology, the CII said.
"The government needs to create an environment of promotion and competitiveness for MSMEs to prosper in a globalised economy rather than dolling out concessions," Confederation of Indian Industries (CII) said in a release today.
The environment can be created only when the government facilitate technological upgradation, better access to credit, monitoring and marketing assistance, it said.
The Small and Medium Enterprises Development Bill introduced in Parliament on May 25 this year to integrate SMEs in a single legal framework would help acquisition of new technology, the CII said.
According to the chamber, MSMEs account for 90 per cent of total industrial units, employ 13 million people and contribute 40 per cent to the overall industrial production, besides having a share of 33 per cent in export.
CII was working to evolve a policy framework to sustain growth of MSMEs, create platforms for them to network and focus inwardly through clusters to build competence in technology and quality, it said.
The industry body favoured the cluster approach as it maximises available resources and helps MSMEs absorb technology better and facilitates marketing of products made by the sector.
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