Latest News | Govt Should Actively Support MSMEs in Digitisation Processes: Official

Chennai, Jul 22 (PTI) Confederation of Indian Industry National MSME Council Co-Chairman Ponnuswami on Monday said the government should actively support micro, small and medium enterprises, in their digitisation processes.

Expressing his view on the Economic Survey presented by Union Finance Minister Nirmala Sitharaman, Ponnuswami said there needs to be an effort through close coordination between the Ministry of Commerce, Ministry of MSMEs and Ministry of External Affairs to help MSMEs access new markets, especially in the case of first time exporters.

Also Read | Kamala Harris Could Be the First Woman To Become US President; From Victoria Woodhull to Hillary Clinton, List of Women Leaders Who Came Close or Ran for Presidency.

"The government needs to continue actively supporting MSMEs in their digitisation processes and implementing Industry 4.0" he said in a statement.

Ponnuswami said MSMEs have plenty of opportunity for growth in Defence, Electronics, EV manufacturing.

Also Read | How To Confirm Dengue Infection?.

"The government needs to undertake outreach programmes in Tier-2, Tier-3 and rural areas," Ponnuswami, who is also the Chairman and Managing Director of Pon Pure Chemical India Pvt Ltd said.

"We appreciate the enhancement of credit access to MSMEs through Credit Guarantee Fund Trust for Micro and Small Enterprises, by raising the guarantee limit of Rs 2 crore to Rs 5 crore. The disbursement of Rs 3,000 crore of NSIC Venture Capital to MSMEs in FY24 was a significant achievement," he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)