Tag: Nitin Gadkari

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MSME Startup

Foreign Firms Flouting MSME Tendering Norms, Highlights CEAI in a Letter to Nitin Gadkari

Ministry of MSME
Ministry of MSME (Photo Credit: PIB)

New Delhi, October 7: An engineering professionals body-the Consulting Engineers Association of India (CEAI), in a letter to Nitin Gadkari, has alleged that foreign companies are flouting the MSME tendering norms.

The letter has drawn the attention of the government towards flouting of the MSME tendering norms by “the powerful foreign companies”. The body mentioned that the government has changed the tendering system to benefit the small and medium enterprises in the country by limiting tenders below Rs 200 crore for Indian companies only.

However, the provisions are being flouted by powerful foreign companies wherein they set up business operations in India by incorporating a company under Companies Act 2013 either as Joint Ventures or Wholly owned subsidiaries or a Liaison/Representative Office.

According to an IANS report, the body’s President highlighted that these entities operate as an Indian Company, duly complying with the provisions of the Indian Company Law and Indian tax laws. The current definition allows such companies to enjoy all benefits provided to Indian companies, especially the MSME’s.

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MSME

MSME Revival: Nitin Gadkari Lists Steps Taken to Re-Boost Sector Hit by COVID-19 Pandemic

Union MSME Minister Nitin Gadkari. (Photo Credit: PIB)
Union MSME Minister Nitin Gadkari. (Photo Credit: PIB)

New Delhi, September 17: With the country’s micro, small & medium enterprises (MSMEs) sector badly affected due to COVID-19 pandemic, Union Minister of MSME Nitin Gadkari stated that the government had implemented various schemes and programmes for growth and development of the sector under Aatma Nirbhar Bharat Abhiyan.

Among the major schemes to revive the ailing MSME sector include Prime Minister’s Employment Generation Programme (PMEGP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE), Interest Subvention Scheme for Incremental Credit to MSMEs, Credit Guarantee Scheme for Micro and Small Enterprises, Micro and Small Enterprises Cluster Development Programme (MSE-CDP), Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS).

Under the Aatma Nirbhar Bharat Abhiyan, the Union Ministry had made arrangements for:

a) Rs 20,000 crore Subordinate Debt for MSMEs.

b) Rs 3 lakh crores Collateral free Automatic Loans for business, including MSMEs.

c) Rs. 50,000 crore equity infusion through MSME Fund of Funds.

d) Newly revised criteria for the classification of MSMEs.

e) New Registration of MSMEs through ‘Udyam Registration’ for Ease of Doing Business.

e) No global tenders for procurement up to Rs. 200 crores, this will help MSME.

Apart from this, Prime Minister Narendra Modi had launched an online Portal ‘Champions’ on June 1, 2020, aiming to cover aspects of e-governance including grievance redressal and handholding of MSMEs. Through the portal, total 18,723 grievances have been redressed up to September 9, 2020, said Gadkari in a written reply to a question in Rajya Sabha.

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Business motivation Strategy

Modi Govt Considering Giving ‘MSME Status’ to Dealers to Enable Them to Avail Benefits Offered to MSMEs, Says Nitin Gadkari

Nitin Gadkari | File Image (Photo Credits: Facebook)

The Modi government is considering of giving ‘MSME status’ to dealers which will enable them to avail benefits offered to micro, small and medium enterprises (MSMEs). The announcement was made by Nitin Gadkari, Union Minister for MSME and road transport and highways, while he was addressing a virtual exhibition on ‘Construction Equipment, Technology Components and Aggregates’ on August 18. “Regarding MSME, we are thinking now of giving MSME status to dealers also and they will get benefit of it, that is also under consideration by which they will get the benefits,” Gadkari said.

He said the government is also working on integrating and developing all kinds of transport like waterways, sea transportation, rail, road and air transport which will definitely reduce the logistic cost and help industries in a big way. Adding further, Gadkari emphasised that the government is ready to provide all possible support and industries should come up with innovative plans so that India can be a manufacturing hub in the automobile sector.

The Minister said the micro, small and medium enterprises (MSMEs) comprising manufacturing and services units need to get registered to avail the benefits and subsidies offered under various government schemes. The MSMEs that have been registered are eligible for tariff subsidies as well as tax and capital subsidies. The registration also helps them in getting government tenders and enables easier access to loans at low interest rates.

Gadkari said in order to achieve the objective of self-reliance, the country needs to reduce imports and boost manufacturing of various components in sectors like automobiles and construction equipment. The minister called for research, innovation and technology upgradation and emphasised on the need for joint ventures and foreign collaborations to get easy finance and compatible technology, an official statement said.

The minister also reiterated his appeal to major industries to clear the outstanding dues to MSMEs in a timely manner. He said the Ministry has also requested the Finance Ministry, the industries who want to make their technology centers, training centers, research centers, from income tax point of view, whether we are in a position to give some more support to them by which we can inspire and motivate them for more research and innovation,” Gadkari said.

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Startup

MSME Sector in India: Nitin Gadkari Says Government Plans to Increase MSME Exports & Jobs in the Next 5 Years

MSME
MSME (Photo Credits: Wikipedia)

New Delhi, August 17: Union Minister Nitin Gadkari on Sunday said that the Micro, Small & Medium Enterprises (MSME) sector plays a major role in the development of the country. He further spoke about how the government plans to increase MSMEs exports to 60 percent from 48 percent in the next 5 years. This will also be adding 5 crore jobs in the next 5 years.

“Our MSME sector has a huge contribution to the development of our country. Currently, 30 per cent income of GDP growth rate comes from MSME. 48 per cent of our exports are from MSME and till date, we have created 11 crore jobs,” Gadkari said while speaking at SWAVALAMBAN E-Summit 2020 organised by ‘Lets Endorse Development’ NGO.

Unregistered enterprises need to register, says Gadkari:

In order to get the benefit of the MSMEs, unregistered enterprises need to register themselves under the Micro industry. He urged NGOs to urge small traders and encourage them to also register.

Plan to Increase Exports, Bring Foreign Investment & Upgrade Technology: 

The MSME Minister said that the government will work for the empowerment of people from villages and make them self-reliant. Gadkari added that the plan would be to increase efforts, bring foreign investment, and upgrade technology and make India super economic power.