Inaugurating the 2nd Innovation Summit-2014 under aegis of PHD Chamber of Commerce and Industry here today, Union Minister Kalraj Mishra launched an android application especially prepared for MSME sector by PHD Chamber of Commerce.
This Android App christened as the ‘PHD-MSME App’ has been developed with the help of students of Delhi University.
The App provides solutions to budding entrepreneurs and existing MSME entrepreneurs of different dimensions like marketing, finance, training and capacity building, different government schemes and opportunities.
Kalraj Mishra said that micro, small and medium enterprises across the country needed capital at relaxed rates of interest to run their enterprises and cater to the needs of their big brothers as well as contributes substantially to India’s manufacturing and external engagements.
The Union Ministry of Micro, Small and Medium Enterprises (MSME) is lobbying hard with the public sector banking enterprises to extend loan facilities to micro, small and medium enterprises at base rate so that this segment is able to access vast capital from the financial and banking institutions at much cheaper rates and roll out quality products and run their enterprises effectively, according to the Union Minister for MSME Kalraj Mishra.
“To ensure this, I am meeting the senior functionaries of banking and financial institutions at Lucknow on Thursday (tomorrow) so that an earlier decision is taken on this front with their concurrence which will be duly endorsed subsequently by the Reserve Bank of India, Finance Minsitry and the Prime Minister Office”, said Mishra.
“My Ministry has been working hard to make sure that the new government succeeds in setting up of Credit Guarantee Trust Funds to extend liberal packages to MSME as a whole and inputs have already been incorporated in the new draft MSME Policy which is at the advanced stage of finalization. The government proposes to roll out the new policy in the next 30 days”, said Mishra.
As per stipulation of the new policy, the general procedures as well as procurement procedures would be vastly simplified and all clearances for setting up of micro and small businesses would be accorded online within a fixed period of 15 days, assured the Minister.
