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Govt to provide 80% of financial requirement of SMEs

Govt to provide 80% of financial requirement of SMEs
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First Published: Wed, May 02 2007. 06 05 PM IST
Updated: Wed, May 02 2007. 06 05 PM IST
New Delhi: Under the 11th Plan, the Government is proposing to increase financial assistance to existing clusters of micro, small and medium enterprises up to 80% of their financial requirements.
This was revealed by Dr. Chandrapal, Secretary, Ministry of Small Scale Industries and Rural and Agro Industries at the SME Cluster Conclave organized by CII, in partnership with the Ministry of Small Scale Industries.
80% of financial requirements of existing clusters will be given by the government under the Micro Small Enterprises- Cluster Development Programme proposed under the 11th Plan. This assistance will be provided towards technology upgradation and meeting of financial gaps.
Mr Jawahar Sircar, Additional Secretary and Development Commissioner, Ministry (SSI) of SSI and ARI said that Cluster Concept was India’s answer to global competition. While other countries have resources to build mile long factories, we bring together our resources in the form of clusters to create large organizations to compete globally.
“To enable MSMEs to become competitive, the government is proposing to build a pool of consultants under its National Manufacturing Competitiveness Programme. These consultants would be deployed with a cluster of 8-10 companies for a period of one to one and a half years. The cost of these consultants will be borne by the government”, added Mr Sircar.
The Cluster Conclave also hosted a Kaizen exhibition where close to 200 Kaizens from over 40 MSMEs were displayed. The results of the Annual Kaizen Competition of CII were also announced at the Conclave.
Speaking at the Conclave, Mr Jamil Ashraf, Executive Director, Sandhar Technologies said that while it was easy to build partnerships it was a difficult task to sustain them, which the cluster approach helps to build
While this was the first SME Cluster Conclave organized by CII in collaboration with the government, the plan is to organize many more such events in partnership with the government and spread the message.
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First Published: Wed, May 02 2007. 06 05 PM IST