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Make in India to become the game changer for SMEs: Kalraj Mishra

Tags: Kalraj Mishra, MSME, Union Budget, Make in India

January 08, 2015 | COMMENTS ( 0 )

Make in India to become the game changer for SMEs: Kalraj Mishra

MSME Minister Kalraj Mishra said that Modi led Make in India programme would definitely benefit the micro, small and medium enterprises if they invest in taking the business to the international level, says PTI.

“In order to attract investments from private equity players without providing them management control, small businesses will have to become viable and competitive. The game changer for the MSMEs is going to be the Make in India initiative. This ambitious programme has potential to attract foreign investment in both production and in venture and angel funds,” he said.

In the Union Budget 2014-15, the government has already proposed a fund of Rs 10,000 crore for MSME sector to make the eco-system more conducive for the venture capital. The fund is likely to act as a catalyst to attract private capital by way of providing equity, quasi equity, soft loans and other risk capital for start-up companies by way of providing equity, quasi equity, soft loans and other risk capital for start-up companies.

Speaking on the private equity investments, he said, "The government is considering ways to create a framework for directing private equity towards the small businesses. However, for private equity to give money without sharing management control, the MSMEs have to be viable and competitive without quotas or subsidies."

“The outside financing necessarily requires small businesses to have a clear and credible plan to scale up. Clearly, the MSMEs need to think big and not try to survive on the protection meant to support fledgling businesses," added Mishra.

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