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PM tells SMEs to go global with top class, eco-friendly products
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SME Times News Bureau | 19 Oct, 2016
Prime Minister Narendra Modi on
Tuesday called upon the entrepreneurs in the micro, small and medium
sector (MSME) to manufacture quality products and ensure that they are
environment-friendly as well.
Addressing a gathering on the
Punjab Agricultural University (PAU) campus in Ludhiana after giving away
national awards to MSME entrepreneurs, Modi said that India's
manufacturing sector should target the global market.
"We should
encourage 'zero-defect, zero-effect' model of manufacturing to ensure
that products are top quality and have no adverse impact on the
environment. Even common people are not ready to compromise on quality
today," Modi pointed out.
"In coming years, people in other
countries will object to Indian products by linking those to
environmental hazards. We must ensure that our manufacturing will have
zero effect on environment," the Prime Minister emphasised.
He also said that India holds the promise to play a crucial role on the global stage in the future.
"India
is the fastest growing economy among large economies. Only India is
moving ahead and giving strength to the world economy despite the global
slowdown since 2008. We want to encourage a network of small
enterprises. Innovation is the key here. I lay a lot of emphasis on
manufacturing sector. Our focus is also on start-ups," Modi pointed out.
He
said that the central government is focusing on MSMEs and categories
like women, Dalits, backward classes and poor to bring them into the
manufacturing sector and make them self-reliant.
"Rs 200,000
crore has been distributed among nearly 3.5-3.75 crore manufacturers and
start-ups in the past one-and-a-half years. This amount of Rs 200,000
crore has been given by banks without any guarantee. 70 per cent of the
beneficiaries are women, Dalits and backward classes and poor," he said.
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Slow response from banks are pulling down SME growth
Bhagawath Prasad | Tue Oct 18 16:00:00 2016
Our PM's thoughts and deeds are great and appreciable, he is pretty fast to notice many things around us , but our administration system is not quick enough to understand to reach the goals set by him, SMEs need quick responses from banks , today's fast changing world , decisions need to be at fast pace , banks must support SME s with short-term working capital to meet their making and selling process.Since they are slow , parallel banking system is pretty much existing and fleeing SMEs
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Re: Slow response from banks are pulling down SME growth
Milan | Fri Oct 28 13:21:09 2016
Once bitten, twice shy...sorry many times bitten, now shy. Large corporates those whose loans are at default combined with RBI, GOI & Shareholders asking why so careless attitude while giving / recovering loans has made the banks to be more diligent / careful now and deserving MSMEs are the sufferers. Banks shall in fact now give more housing loans, Car Loans, etc..than private loans ( even when later is costlier ) and also loans to NBFCs who further give Microfinance loans to needy.
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