SME Times News Bureau | 06 May, 2020
Amid challenges
due to COVID-19 pandemic, Union Minister for MSME Nitin Gadkari on Wednesday
urged the Indian Fragrances and Flavours Industry to focus on domestic
production & import substitution.
In a
meeting held meeting via video conferencing with the members of Fragrances and
Flavours Association of India on impact of COVID-19 on startup eco system and
MSMEs, Gadkari suggested to the Fragrances and Flavours Industry to focus on
domestic production of products instead of using imported products and emphasized
domestic production of bamboo.
He
added that industry should focus more on innovation, technology and research
skill to become competitive in global market.
During
this interaction, the members expressed concerns regarding various challenges
being faced by MSMEs amid COVID-19 pandemic along with few suggestions and
requested support from the government to keep the sector afloat.
Some
of the major issues highlighted and the suggestions given included: Higher
import duty on raw material and lower import duty on finished items, power and
transport issues in North East region, payment of salaries to workers,
strengthening access to finance, working capital issue, fast track Income tax
refund to provide liquidity.
Gadkari
responded to the questions from representatives and assured all possible help
from the government. He informed that he would take up the issues with related
departments.