Global SME partnerships needed for success of ‘Make in India’ initiative: Kalraj Mishra

The minister also launched CII’s new SME initiative

Kalraj Mishra, Minister, Ministry of MSME stressed on the importance of global SME partnerships for the growth of Indian SMEs as well as for the success of the Prime Minister’s visionary Make in India initiative. He was speaking at the Special Plenary Session of the Global SME Business Summit 2015 in Delhi. The event was organised by CII, in close association with the Ministry of MSME, Government of India.

The Minister exclaimed that a platform like the summit is important to bring stakeholders forming various parts of the SME ecosystem in India and abroad together. He added that the dynamic global business environment has exposed Indian MSMEs to a plethora of opportunities as well as challenges. He further stated that the Ministry of MSME is committed to bringing in structural reforms to help India SMEs leverage the opportunities and evolve into globally competitive and robust powerhouses of the Indian economy.

Mishra shared some of the most recent initiatives by the Ministry to propel the growth potential of these enterprises. Amongst these, he mentioned bill for redefinition of Indian MSMEs by enhancing the investment limits in plant and machinery which is in the Parliament, the framework for revival and exit of sick MSME enterprises, the Public Procurement Policy mandating PSEs to source 20 per cent of their procurement requirement from MSMEs which has been made mandatory from 1 April 2015, recommendations made by the KV Kamath Committee to examine the financial architecture of Indian MSMEs etc.

Mishra also launched CII’s new SME initiative, The India MSME Alliance (TIMA) which is an apex body of MSME associations in India.