The Modi government
has made the promotion of ease of doing business an integral part of its agenda
and is promoting it vigorously. A few important steps have already been taken.
Within months of taking over by the Modi government, the Department of
Industrial Policy and Promotion (DIPP) took a slew of measures to improve
business-friendly environment in the country.
The above concerns can
catapult the MSME sector, the largest employment provider after the
agricultural sector and currently employing about 40% of India’s workforce, at
the forefront of sectors standing disadvantaged due to an unfriendly business
environment in India. Presently, entrepreneurs face various impediments in
starting as well as promoting the enterprise, especially so in the micro, small
and medium enterprises sector. The MSME sector in India stands at crossroads.
Considering these facts the Finance Minister Shri Arun Jaitely in his budget
speech had announced setting up of a Task Force for the MSME sector. Being
member of this important committee I had the privilage of interacting with many
stackholders on their concerns on various issues. In a series of Blogs and
articles I will try to bring out those issues for public debate.
We have seen reports
of various committees and Task Forces which have highlighted the problems and
bottlenecks being faced by MSME sector. Those Committees have also given
various suggestions for large scale reforms and remedial actions to be taken by
the Government and other related agencies to address the issues. But the fact
of the matter is that either action has not been taken by the desired intensity
or the steps being taken are not sufficient enough. It is high time that we
reassess the situation and rearrange ourselves to target the problems of the
MSME sector with strong will and conviction.
Out of various
impediments in the progress of this sector, we have identified some important
ones and shall invite comments to analyse them threadbare to arrive at some
concrete but achievable solutions.
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