The Minister for Road Transport & Highways and Micro, Small and Medium Enterprises(MSME), Shri Nitin Gadkari announced simplification of the process for registration of Micro, Small and Medium Enterprises. Addressing a webinar of SME Street Game Changers Forum this evening, Shri Gadkari said that now only PAN and Aadhaar will be required for registration of MSMEs.
The Minister added that after getting registered, the MSME unit will be getting priority and finance. He said that there is a need to impart training to small units in fields of entrepreneurship and other related aspects. He assured full support of the MSME Ministry, and also expressed hope that banks and NBFCs will also provide full support to small businesses.
Emphasizing the importance of MSMEs, the Minister said that the MSMEs contribute significantly to the economic and social development of the country by fostering entrepreneurship and generating large employment opportunities. He said that with the objective of making India a global economic powerhouse, the vision of MSME aims towards building a supporting ecosystem for MSMEs to enhance their contribution towards a five trillion dollar economy. He said that in order to boost the economic activities of MSMEs, the Government has announced a special incentive package ‘Aatmanirbhar Bharat Abhiyan’ of 20 lakh crore rupees.
Support our journalism by subscribing to Taxscan AdFree. We welcome your comments at email@example.com