Nitin Gadkari: Govt considering giving MSME status to dealers

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The government is considering according MSME status to dealers as it will enable them to avail benefits offered to micro, small and medium enterprises, Union Minister Nitin Gadkari said on Tuesday. Micro, small and medium enterprises (MSMEs) comprising manufacturing and services units need to get registered to avail the benefits and subsidies offered under various government schemes.

Registered MSMEs are eligible for tariff subsidies as well as tax and capital subsidies. The registration also helps them in getting government tenders and enables easier access to loans at low interest rates. “Regarding MSME, we are thinking now of giving MSME status to dealers also and they will get benefit of it, that is also under consideration by which they will get the benefits,” Gadkari said.

The minister also reiterated his appeal to major industries to clear the outstanding dues to MSMEs in a timely manner. “We are also requesting to the Finance Ministry, the industries who want to make their technology centers, training centers, research centers, from income tax point of view, whether we are in a position to give some more support to them by which we can inspire and motivate them for more research and innovation,” Gadkari said.

The minister for MSME and road transport and highways was addressing a virtual exhibition on “Construction Equipment, Technology Components and Aggregates”. Gadkari said to achieve the objective of self-reliance, the country needs to reduce imports and boost manufacturing of various components in sectors like automobiles and construction equipment.

He appealed to the industry to develop industrial clusters, technology centers, research labs and go for upgradation of technology and skills. He assured the stakeholders of all possible support in developing technology centres in India. The minister called for research, innovation and technology upgradation and emphasised on the need for joint ventures and foreign collaborations to get easy finance and compatible technology, an official statement said.

The government is also working on integrating and developing all kinds of transport like waterways, sea transportation, rail, road and air transport which will definitely reduce the logistic cost and help industries in a big way, Gadkari said. He said work is going ahead on a new scrappage policy for the transport sector. He emphasised that the government is ready to provide all possible support and industries should come up with innovative plans so that India can be a manufacturing hub in the automobile sector.

Read More at: https://www.outlookindia.com/newsscroll/govt-considering-giving-msme-status-to-dealers-gadkari/1918366

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