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The government is expected to come up with report for accelerating manufacturing in the Micro, Small and Medium Enterprise (MSME) sector by the first week of June, said the MSME Secretary, Madhav Lal, who is heading the Inter-Ministerial Committee (IMC) on manufacturing set up recently.
"The report is in the ongoing process and we are working on it. We will come up with the report soon and will be ready by first week of June," he toldSME Times in New Delhi. Earlier, on the fallout of a meeting with the Cabinet Secretary Ajit Seth on March this year, it has been decided that there is a need to address the issues of MSME sector and suggest ways to boost the manufacturing in the sector. "And, as a fallout of that meeting it was felt that some of the issues need to be looked into greater depth. We are looking at MSMEs cutting across all the sectors as of now," Lal said to this publication earlier. The committee had to submit its recommendations within one month, he said. The sector is witnessing a slow growth in exports falling from 40 percent to 36 percent lately. The ministry expects that the trend would change if necessary steps are initiated. The share MSME sector may increase up to 50 percent in country's total exports in the 12th Plan. The MSME sector contributes around 9 percent of GDP and accounts for around 45 percent of the manufacturing output at the moment. There are 3.6 crore thriving enterprises that employs over 8 crore people currently. |
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