New Delhi, Jan 3 (KNN) A small number of medium enterprises in the Micro Small and Medium Enterprises (MSMEs) wanted to step out of the administrative control of the Ministry of MSME in 2020 budget as they are ‘persona non grata’ in the government, said the Federation of Indian Micro and Small & Medium Enterprises (FISME).

FISME in its budget expectations to Finance Minister Nirmala Sitharaman on December 17 had said, “Keeping in view that medium enterprises have specific needs and they do require policy attention, it would be better that their administrative control is shifted from Ministry of MSMEs to Ministry of Commerce and Industries.”

The MSME body, further alleged that medium enterprises in India are the sufferer of biasness and they also remain far away from the Public Procurement Policy which mandates 25 per cent procurement from MSEs.

''Biasness, even bars medium enterprises from seeking relief against delayed payment through facilitation councils,” FISME said.

Advocating medium enterprises step to move out of MSME ministry, FISME said that medium enterprises are the backbone of global value chains (GVC) through which almost two-thirds of global trade is transacted. Countries like Germany, France and the US realized early that medium businesses possess the capability to adhere to tough standards and withstand vagaries of global trade.

China, Vietnam and Bangladesh have also in recent years have leveraged these businesses to acquire higher export share globally as they have looked at mid-size enterprises separately from small and large businesses.

Published On : 03-01-2020

Source : KNN India