Govt urges big cos to handhold MSMEs

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IANS | 23 Jan, 2023
Commerce Minister Piyush Goyal on Monday urged leading companies to take responsibility to handhold MSMEs, help them adapt best practices, and integrate them into the supply chain ecosystem.

Addressing the fourth Plenary Session of B20 India Inception Meeting on "Building Resilient Global Value Chains" in Gandhinagar, he noted that MSMEs flourish around a larger unit or anchor.

Citing an example, he said that as Apple's manufacturing plant comes up, thousands of MSME units flourish in the ecosystem as mini value chain suppliers to Apple.

The Commerce Minister also said that MSMEs have more practical solutions, day to day experiences, and having learnt the hard way, are able to adapt to circumstances better than large companies.

He noted that large companies must be sensitised to handhold MSMEs associated with them.

"We must also try to make it easier to operate for small companies, eliminate unnecessary paperwork, make custom processes simpler, and use technology to ease and simplify processes" Goyal said in his address.