We are inviting major FDIs into MSMEs under ‘Make in India’: Haribhai Chaudhary
Manishika Miglani
“The centre has been working relentlessly to invite FDI into the MSME segment under the ‘Make in India’ regime apart from targeting the larger corporates, said Haribhai Parathibhai Chaudhary, Minister of State for MSME, Government of India while addressing the ASSOCHAM National Summit on e-commerce for MSMEs held in New Delhi.
According to Chaudhary, the world is about to witness the fourth industrial revolution in which India can become the leader by turning into a cashless economy. He was hinting at the recent move of demonetisation announced by the Central Government calling it a “short-term problem” that would fetch “bigger results in the long-term.” “Demonetisation will also help to control the fiscal deficit,” he added.
Comparing India’s manufacturing scenario with China and other countries, Chaudhary said, “We cannot compare our economy with China as we are a very liberal nation as opposed to the non-democratic practices of our neighbouring country. Our pro-labour policies also make us very different from the way business is executed in the other nations,” he elaborated.
The conference was also addressed by S.N. Tripathi, Additional Secretary & Development, Commissioner (MSME), Ministry of MSME, Government of India, who felt that India needs to take quick steps in the direction of making the country completely digitised.
The summit shed light on the MSMEs suggesting an increase in the withdrawal limit to 2 lakh per week followed by the sector initiating skill development for rail and defence manufacturing.
The conference also shed light on the role of e-commerce in establishing the MSME’s in India using internet “not only as a marketing tool” but to understand the “high demand of the product in question.”
The other speakers at the event included Rajesh Kumar, Director-Technical, Telecommunications Consultants India Ltd.; H.P Kumar, Advisor, Power2SME & Former CMD, National Small Industries Corporation Limited; Sandeep Aggarwal, Founder, ShopClues & Droom; and Avi Arya, Chief Mogul, Internet Moguls.
