PSUs may have to buy 20 pc of requirements from MSMEs

The government is planning to make it mandatory for all public sector units to purchase 20 per cent of their requirements from micro, small and medium enterprises, MSME Minister Kalraj Mishra said today.
Mishra also said that definition of MSME -- in terms of turn-over -- would be amended under a new policy that was in the offing.
He made the announcements at an industrial exhibition organised by the Vadodara Chamber of Commerce and Industries.
The MSME ministry was also in talks with public sector banks to facilitate loans for the MSMEs at base interest rates, he said, adding that he had written to the Finance Minister Arun Jaitley in this regard.

"We have drawn up an ambitious plan to open Incubation Centres in 500 districts ... We would also open 100 high-technology incubation centres. We want to instill confidence among unemployed youth so that they can become independent," said Mishra.