To stimulate the growth of Micro, Small and Medium Enterprises (MSMEs), industry body PHD Chamber of Commerce & Industry has tied up with SME Rating Agency of India (SMERA) to help entrepreneurs to get financial assistance, said PHDCCI president Anil Khaitan at the inauguration of the PHDCCI's Rajasthan State Chapter in Jaipur.
The MSME sector is the second largest employment creator in the country after agriculture.
The new turnover-based definition of MSME will bring more firms within the MSME fold, helping them to increase their access to funds from the banking sector, Khaitan said on Tuesday.
The PHDCCI has developed a web portal bringing in all government schemes under one umbrella. The industry body has suggested the Government formulate a 'Trade with India' policy apart from the existing 'Make in India' policy.
Chairperson, PHDCCI, Shruti Nada Poddar said PHDCCI was committed to the growth of MSMEs, which contribute to more than 90% of the country's GDP.
Former Secretary, Ministry of Tourism, Government of India, and Special advisor to PHDCCI, Rajasthan, Vinod Zutshi, said Rajasthan should tap solar power, apart from tourism, to generate more revenue and jobs in the state.
"Policy and industry needs should match. The industrial chambers have to play a crucial role," said Zutshi.
Additional Chief Secretary Industries and Chairperson RICCO, Rajeeva Swaroop, reiterated the government's commitment to boosting industrial growth with great incentives in Rajasthan Investment Promotion Scheme (RIPS) and other industrial policies. He pointed out that the labour situation and the digital ecosystem were conducive to the health of industry in the state.
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