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Govt will remove barriers in credit flow to MSMEs: Verma

LUCKNOW: Emphasising the MSME sector's important role in making India a $5-trillion economy, Union Minister Bhanu Pratap Singh Verma on Tuesday said the government will remove all the barriers in credit flow to this sector. The Union Minister of State for MSME also said that the government was also committed to develop a better system of redressal and debt facilities.

Verma was addressing a session - Making Indian MSMEs Globally Competitive through Trade, Finance & Investment Facili ..
The minister said the MSME sector is being developed as a new engine of growth in the country and modernised through innovation and will be more competitive.

Verma said that the export business from the MSME sector is continuously increasing with the contribution to the country's exports now touching almost 50 per cent.

"It also accounts for about 30 per cent of the country's GDP. In such a situation, the role of our MSME sector becomes important in strengthening India's positi ..