NEW DELHI, July 25:The Government has decided to
launch within a month a portal on the lines of Alibaba in
China and Amazon in the US for selling products manufactured
by small industries, MSME Minister Nitin Gadkari said in the
Lok Sabha on Thursday.
He expressed confidence that it will generate a turnover
of Rs 10 lakh crore in the next two years of its launch.
It will provide a good opportunity to the MSME sector
which contributes significantly in job generation and
promoting growth of the country, Gadkari said in the Lok Sabha
during Question Hour.
Like what Alibaba has done to China’s growth and Amazon
in the US, India has also decided to have a portal dedicated
to the MSME sector, he said.
“We have also decided to launch a portal for promotion of
MSME…we have also talked to GeM (Government e-Market place)
and I have also discussed with Piyush Goyal (Commerce and
Industry Minister). We are launching a new portal for MSME. It
will be launched in a month,” he said.
The minister further said that banks have sanctioned
36,000 loans under the ‘psbloansin59minutes’ portal.
Initially it was taking time, he said, adding “it is our
endeavour to reduce the time taken for disbursement”.
With regard to loans given to Micro, Small & Medium
Enterprises (MSME), Gadkari said bank credit to the sector has
increased from Rs 10.70 lakh crore at the end of March 2017 to
Rs 14.97 lakh crore in March 2019.
He said the government has taken several steps to promote
MSME sector including 2 per cent interest subvention provided
they have Udyog Aadhaar Number (UAN) and GST registration.
Besides, he said, public procurement policy mandates the
central ministries and PSUs to procure at least 25 per cent of
annual procurement from MSEs in place of 20 per cent
stipulated earlier.
He also said that the government has adopted Cluster
Development Approach as a key strategy for enhancing
productivity, competitiveness and capacity building of MSEs.
(PTI)
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