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'MSME sector facing uncertain future in Bengal'
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SME Times News Bureau | 22 Sep, 2014
Despite being in a leading position, the micro, small and medium
enterprises (MSME) sector in West Bengal is looking at an uncertain
future mainly because of infrastructural deficiencies, union MSME
Minister Kalraj Mishra said Saturday.
Addressing a Merchant
Chamber of Commerce and Industry-organised event here, he said a new
policy providing the necessary fillip to the sector will be introduced
in two months.
"There are 25 lakh MSME units in Bengal but 94
percent of them don't have access to financial aid. Bengal might be
leading in the sector but the condition is alarming and future is
uncertain as a large number of units are getting sick. This is because
of the infrastructural deficiency... units are not getting land, power,
water, communication et al," said Mishra.
"Besides, there are the
procedural impediments where you have to satisfy so many conditions
under various laws to get the requisite permission and registration.
While land is a big problem for the industry across India, the condition
of West Bengal in that respect is alarming," he said.
Observing
that the MSME sector will play a vital role in India's pursuit to become
a developed economy, Mishra talked about several initiatives that are
on the anvil to give the sector the desired boost.
The new MSME
policy likely to be introduced within two months will widen the access
of these enterprises to bank financing, simplification of general as
well as procurement procedures as well as introduction of online
registration, he said.
"The new policy will also focus on giving a boost to women and rural entrepreneurship and encourage start-ups," said Mishra.
The
minister added that a Credit Guarantee Trust Fund to extend liberal
packages to MSME with contribution from state governments is also being
introduced.
"If you provide Rs.100 crore for this, a collateral
free loan of Rs. 1,000 crore would be offered for promotion of MSME
under the Credit Guarantee Fund Scheme," he said explaining the working
of the scheme.
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