According to an official statement, Indian government has made the registration process for Micro, Small and Medium Enterprises (MSMEs) easier. Now, they will only be required to provide PAN and Aadhaar to register. Nitin Gadkari, MSME minister, further said that MSME unit will be getting the priority and needed finance after registration.
Nitin Gadkari further emphasised on the need of training for the small size units in the entrepreneurship field and other related aspects. He further expressed his hope that the banks and non banking financial companies (NBFCs) will assist in supporting the small size businesses.
The minister stated that MSME’s vision aim to build supporting system for the MSMEs in order to increase their contribution to US$ 5 trillion economy. With the purpose to boost economic activities performed by MSMEs, Indian government has announced an incentive package ‘AatmaNirbhar Bharat Abhiyan’ worth Rs 20 lakh crore.
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