New Micro Small and Medium Enterprises policy soon: Kalraj Mishra

HYDERABAD: Micro Small and Medium Enterprises Minister Kalraj Mishra today said his ministry is working to bring out new policy for the sector and a committee with officials from Ministries of Finance, MSME and RBI has been formed to chalk out issues to be included in the new policy.

"MSME will be defined by the three departmental committees. MSME will lead and Ministry of Finance and RBI will also be there. This committee will chalk out everything.

I think within three or four months it (draft policy) will come out," Mishra told reporters here on the sidelines of a programme organised by Council for Small Manufacturing Industry.

The policy will address the issues such as the capital and number of employees for the purpose of defining any industry or enterprise under MSME category, he said.

"We are in the process of studying the similar policies in other countries also and we will also study polices of various states within India. Based on that we will come out with a comprehensive policy," he said.

The Ministry will have a series of meetings with banks next week to sort out the issues related to the MSME sector, the minister said.

Mishra said as per rule, the public sector units need to source 20 per cent of goods or services though MSME sector. However, as per reports currently the PSUs are doing so.

"We will sort out this issue also. From 2015 it is mandatory to buy 20 per cent (including 4 per cent from women, SC/ST SMEs) from MSMEs," he explained.

Plans are afoot to set up as many as 15 Tool Room and Training Centres form MSMEs across the country, he added.