Union Budget 2024-25: Here are the key challenges in the MSME sector

Key challenges
 

 Lack of market intelligence

 Limited visibility and reach due to lack of branding

 Complex trade compliance requirements

 High cost of technology adoption

 Unavailability of collateral to raise funding

Industry ask

  Include of labour-intensive sectors in PLI

  National-level export promotion institution for a single point of contact

  Reconsider 45 days payment rule to 60 days

  Enhance NPA period from 90 days to 180 

  Revise turnover criteria for trade receivables discounting system from Rs 500 cr to Rs 250 cr

To realise the growth target of $35 trillion by 2047, it is key to address the bottlenecks that will require concerted efforts by both public and private-sector stakeholders. This should expand the domestic and export market for MSMEs”
 

Mohammad Athar, Partner & Leader, Industrial Infrastructure, PwC India