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1
Jun
2020
Gadkari assures MSMEs of help in securing loans
A recent survey of 155 MSMEs by the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA), revealed that 107 of them said cash flow was a major concern.
Pune: Union small and medium industries minister Nitin Gadkari on Sunday said small units facing difficulties in getting banks loans should approach him through his office.
He said this while addressing a gathering of over 300 entrepreneurs. The minister said Rs3 lakh crore has been sanctioned as collateral-free loans to micro, small and medium enterprises (MSMEs) and a “lot of MSMEs are also getting that money”.
Gadkari said, “A committee headed by Union defence minister Rajnath Singh is looking into implementation of this facility. However, if there is any difficulty, please write an e-mail to me through my office.”
A recent survey of 155 MSMEs by the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA), revealed that 107 of them said cash flow was a “major concern”.
On delayed payments, Gadkari said his ministry was considering reducing the credit cycle for payments from big industries to small to 30 days from 45 days. The MCCIA survey found that the average amount owed by big companies to an MSME is Rs2-3 crore.
MCCIA president Pradeep Bhargava urged the minister to help reduce the credit cycle to 30 days from 45 days for at least six months. “The MSMEs can complain on Samadhaan, a portal, against big companies for delayed payments,” Gadkari said.
On labour shortage, Gadkari said, “It is not true that the industry is totally dependent on migrant labourers. They constitute only 20% of the labourers on an average for the industry... When the labourers return, industries also have to make sure that they take care of the workers.”
He said this while addressing a gathering of over 300 entrepreneurs. The minister said Rs3 lakh crore has been sanctioned as collateral-free loans to micro, small and medium enterprises (MSMEs) and a “lot of MSMEs are also getting that money”.
Gadkari said, “A committee headed by Union defence minister Rajnath Singh is looking into implementation of this facility. However, if there is any difficulty, please write an e-mail to me through my office.”
A recent survey of 155 MSMEs by the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA), revealed that 107 of them said cash flow was a “major concern”.
On delayed payments, Gadkari said his ministry was considering reducing the credit cycle for payments from big industries to small to 30 days from 45 days. The MCCIA survey found that the average amount owed by big companies to an MSME is Rs2-3 crore.
MCCIA president Pradeep Bhargava urged the minister to help reduce the credit cycle to 30 days from 45 days for at least six months. “The MSMEs can complain on Samadhaan, a portal, against big companies for delayed payments,” Gadkari said.
On labour shortage, Gadkari said, “It is not true that the industry is totally dependent on migrant labourers. They constitute only 20% of the labourers on an average for the industry... When the labourers return, industries also have to make sure that they take care of the workers.”