Hyderabad: Member associations of South India MSME Joint Action Committee urged the central and state governments to extend support to MSME sector in accessing to low-cost funds. 

They also sought separate non-performing asset (NPA) norms for the MSME sector as the "existing norms are detrimental to the key sector that generates largest number of jobs in the country". 

Advertise With Us MSME associations from across South India gathered at one-day 4th South India MSME Summit organised by Goa State Industries Association (GSIA) in Goa last week and discussed threadbare the issues and challenges that the key sector is facing. They requested the governments to reduce interest rates on MSME loans and formulate NPA norms with human face.

Advertise With Us Inaugurating the summit, Goa Chief Minister Dr Pamod Sawant stated that MSMEs always played key role in industrial development. According to a statement issued by South India MSME JAC, the Chief Minister also assured MSME bodies that his government would extend all possible support to the sector. 

In his address at the summit, APK Reddy, National President, Federation of Small and Medium Enterprises of India (FSME India) and Vice Chairman of JAC, highlighted the problems being faced by the sector. 

Advertise With Us "There is an urgent need to extend Pavala Vaddi (0.25 per cent) scheme for MSME scheme across the country. Besides, power tariffs for MSME sector should be cut to Rs 1 per unit and fixed charges being collected from MSME units should be done away with. 

The governments should link MSME sector with self-help women groups for effective marketing of MSME products," he said. Dr Arimanda Vijaya Sarada Reddy, National Vice President, Women Wing, FSME India and others also spoke on this occasion. 

Apart from FSME India, Tamilnadu Small and Tiny Industries Association (TANSTIA), Karnataka Small Scale Industries Association (KASSIA), Confederation of All India Small and Medium Pesticides Manufacturers Association (CAPMA), KSSIA and other industry bodies from South India took part in the meeting.

Published On : 03-06-2019

Source : The Hans India