New Delhi
PM Narendra Modi said that the number of MSMEs in the country has increased to more than 6 crores today. With this, crores of people have got employment opportunities.
Addressing the gathering from the platform of the post-budget webinar, PM Modi said that in 2020 we amended the definition of MSME. This was done 14 years later. This has removed the fear that the growing business would eliminate government benefits. The MSME’s confidence to continue to move forward, for this, the definition of MSME has been expanded in this budget.
He emphasized the need to adopt new ways for loan distribution. He said that with new methods, MSME will be able to get a low cost and time to get loans on time. He asked the industries to start the mentorship program in order to cooperate with MSMEs. In the budget, the credit guarantee cover for MSME was increased from 5 crores to 10 crore.
He said, “Today 14 sectors are getting the benefit of PLI scheme. 7.5 crore units have been approved under this scheme. Due to this, more than Rs 1.5 lakh crore has been invested in the country and more than 13 lakh crores has been produced. With this, more than Rs 5 lakh crore has been exported. ”
In his address about the manufacturing sector, PM Modi said that today every country of the world wants to strengthen its economic partnership with India. He urged the manufacturing sector to come forward to make maximum benefit of this partnership.
He also underlined the significant contribution of research and development (R&D) in India’s manufacturing visit. He said that it needs to be carried forward and speeding. He suggested that we can focus on innovative products from R&D and can also do value addition in products.
