New Delhi: Urging the industry to join hands in bringing innovative ways of financing, Union Minister Nitin Gadkari said on Friday there was no "trust deficit" between industry and the government, which has been constantly doing away with "red-tapism".
Gadkari said the ban on the entry of corporates and private players in the MSME sector has been lifted to pave way for the formation of 700 clusters in order to reduce dependence on imports as well as for job creation.
Addressing 100 CEOs from across the country in their first interaction with the new government at the CII (Confederation of Indian Industry) National Conference, the Micro, Small & Medium Enterprises Minister also said that to promote innovation a Bank of Ideas and Innovations was on the anvil.
"There is no trust deficit between the government and industry. The Government is very positive and has faith and trust in the industry. We are bringing improvements as per industry suggestions and request for more recommendations”.
"Government is investor-friendly and wants to support industry for employment, growth and exports. It is constantly striving to usher in more reforms and industry should come forward to be a partner in this journey of growth," Gadkari said.
Defining MSME as a sector with huge growth and employment potential, the minister said a decision has been taken to lift the ban on the entry of corporate and private sector in MSME clusters and urged them to come forward with suggestions and ideas which in turn would be supported by incentives like land.
"Private sector can work with us and I need your support. Clusters ... we have sought proposals from the industry for this," he said citing example that incense sticks worth Rs 4,000 crore were imported, which could be manufactured here.
The minister said the need was to move from import substitution to export promotion and this could lead to further progress of MSMEs.
“We will encourage large enterprises to build an ecosystem of ancillaries and vendors so that MSME can contribute to produce at home. Government will support export of goods that MSME can produce, engage in skill development by building ITIs in all areas”, he said urging industry to join hands.
"Red-tapism has been removed and transparency is there," he said adding that quick permission will be given to private sector players to engage with MSMEs.
He also said that technology centers are being planned to enhance skills so that the government becomes a supporter and facilitator of entrepreneurs and "anyone can set up clusters anywhere”.
Gadkari said the roads and highway sector had contributed 1.75 per cent to the GDP.
Ensuring easy availability of capital is of prime importance for sectors, he said, and urged the industry to come forward for finding innovative sources of financing other than banks, especially for the MSME sector.
Stressing on the importance of rural and agriculture sector in India's growth and development, he said the sector needed encouragement to adopt new technology.
"Besides the urban areas, the industry should also focus and give ideas on social-economic transformation of rural areas," he said adding that bio-fuel generation should be stepped up to check Rs 7 lakh crore crude imports annually.
He also said stressed sectors like real estate should be taken care of first and helped to pull them out of their current predicament.
Published On : 14-06-2019
Source : NEWS 18
