GOI DRAFT INDUSTRIAL POLICY

Industrial Policy 2017 needs re-discussion to make a stronger case for MSMEs: Expert

New Delhi, Sept 15 (KNN) With reference to the draft Industrial Policy 2017, the government has announced a set of measures for the different sectors of the industry, including the Micro, Small and Medium Enterprises. However this is a need of discussion along several lines in order to make the policy a strong case for the sector, Yerram Raju, Economist opined.

Ten Point Agenda for MSMEs in Brand India way

New Year leaves many in hope with the MSMEs no exception. Their share in GDP at around 8% currently has prospects of moving to 15% by 2020 according to a KPMG-CII Study in October 2014. Hopes are built on the double digit growth of a few manufacturing sectors by that time and the FDI interventions in defense, pharma and infrastructure sectors. Not so encouraging, however, is the decline in credit growth in the manufacturing sector from 13.7%  a year ago to 7.3% in December 2014.

The Government has no doubt infused some confidence building measures, like a few start-up Funds for SC entrepreneurs, revisiting the definition of the MSMEs and credit policies. Action seems to be far slower than announcements. Even earlier there were 32 Funds announced for the sector at different points of time that did not create the impact one would expect.

At least ten things need to be done by the Government if the MSMEs should move to building brand image for India and they will be all in any case, Make-in-India only.