Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari today held a meeting via video conferencing with the members of Fragrances and Flavours Association of India on the impact of COVID-19 on the startup ecosystem and MSMEs. During this interaction, the members expressed concerns regarding various challenges being faced by MSMEs amid COVID-19 pandemic along with few suggestions and requested support from the government to keep the sector afloat.
Shri Gadkari suggested to the Fragrances and Flavours Industry to focus on domestic production of products instead of using imported products and emphasized the domestic production of bamboo. He added that industry should focus more on innovation, technology and research skill to become competitive in the global market.
Some of the major issues highlighted and the suggestions given included: Higher import duty on raw material and lower import duty on finished items, power and transport issues in North East region, payment of salaries to workers, strengthening access to finance, working capital issue, fast track Income tax refund to provide liquidity. Shri Gadkari responded to the questions from representatives and assured all possible help from the government. He informed that he would take up the issues with related departments.
The Press Release can be accessed at: https://pib.gov.in/PressReleasePage.aspx?PRID=1621553