Sops to MSMEs to be game changer

Source: The Hitavada      Date: 06 Nov 2018 11:02:20


 

By Piyush Shrivastava,

 

Mainly, this sector in Madhya Pradesh is waiting for such steps that could help in re-shaping old projects while give impetus to new projects upgraded with new technology

Add-on to provisions in extending financial support upto 1 crore for industry on minimal security by the union government declared recently, would be a growth riser. In Central India these step would help in drawing positive outcome of programs initiated for MSME like Start-up India or Make In India projects, Entrepreneurship Development, etc. Mainly this sector in Madhya Pradesh is waiting for such steps that could help in re-shaping old projects while give impetus to new projects upgraded with new technology.


In Central India, mostly units were primary ancillary industry or could be termed MSME. Now change in policy the recognition of ancillary of any mega industry has changed. Now these units are working as vendors for mega units. In this sector after inception of new tax regime of Goods and Service Tax across the country mainly work required for unit perdition is financial assistance to existence or new industry to match the technological advances. As one tax one nation has brought uniformity in the taxation system. Now differences in taxation mostly on manufacturing are uniform and now transportation plays key role in profitability of the units. Hence in this parameter the Central region of the Country in Madhya Pradesh that has immense possibilities for industry sector, logistically has equal distance from all ports as well has industry favourable atmosphere, etc.


Mahakoshal Chamber of Commerce and Industry, Ravi Gupta opined that the new industry friendly program incepted by the government promoting ease of doing business and industrial work. With such steps the government should consider demands arouse by the industrial organisations to make some slight changes in the procurement policy from the vendors and small unit. Laghu Udyog Sangh, Jabalpur Secretary, Ravi Mishra said that the Laghu Udyog Bharati at its national convention have raised the issues related to the industrial support.

The demands were based on ground reality and the recent reforms in policy for industry have brought a ray of hope for the MSME to grow by upgrading its self with changing demand in the mega industry. As existing industry requires some changes technologically to match the standards demanded in industrial supply.