Ficci to launch confederation for MSMEs

The Federation of Indian Chambers of Commerce and Industry (Ficci) will launch a platform for micro, medium and small enterprises at its annual general meeting today.

"The Confederation of Micro, Small & Medium Enterprises (CMSME) endeavors to provide one-stop organisation that will work closely with the MSME sector," the chamber said.

CMSME will invite MSMEs across the country to join this umbrella organisation.

"In the coming days, the CMSME will also play an active role in generating a holistic grid to connect MSMEs with mentors, incubators and accelerators and assist MSMEs through capacity building programs," Ficci said.

The chambers said it has already identified focus areas such as policy consultations with the government, legal & taxation issues, finance, marketing & quality standards.

Besides, focus areas would be innovation, start-ups & entrepreneurship, it said.

According to the fourth census of MSME, the sector employs an estimated 59.7 million persons spread over 26.1 million enterprises. The MSME sector accounts for about 45% of the manufacturing output and around 40% of the total exports from the country in terms of value.