Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2011-08-19

Govt. considers 20 pc quota for MSMEs

Govt. considers 20 pc quota for MSMEs

The government is considering a policy proposal to make it mandatory for the government departments and PSUs to source 20 percent of their total procurement needs from micro and small enterprises (MSEs), Minister for Heavy Industries and Public Enterprises Praful Patel said in a written reply to the Lok Sabha on Thursday.
     
A task force on MSME chaired by the Prime Minister's Principal Secretary, T K A Nair, had proposed the policy for MSEs to help them improve their bottom lines and broadly encourage such businesses in the country.
    
Among other things, it proposes making it mandatory to source 20 percent of the total requirements of the government departments and PSUs through the MSMEs.
   
The MSME sector employs about six crore people and contributes eight percent to the country's gross domestic product.
    
They account for 40 percent of India's total exports and over 45 percent of total manufacturing output.
    
Replying to another query in the Lok Sabha, Patel said, Five Central Public Sector Enterprises (CPSEs) have closed down during the last three years, since 2007-08.

These companies are the Indian Oil Technologies, Brushware Ltd, Pyrites Phosphates and Chemicals, National Instruments Ltd and Bharat Yantra Nigam Ltd.
    
    
Besides, based on the recommendations of the Board for Reconstruction of Public Sector Enterprises (BRPSE), the government has approved the revival packages in respect of 42 CPSEs including Hindustan Salts, HMT Bearings, NEPA and Andrew Yule and Co.
 

Related opportunities
  • Express Food Joints / Drive Through
    About Us: Classic dishes are a staple, but sometimes you need..
    Locations looking for expansion Rajasthan
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
  • Bike Rental
    About Us: Fae bikes stands for Fast and Electric Bikes. Fae bikes..
    Locations looking for expansion Karnataka
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Juices / Smoothies / Dairy Parlors
    About Us: At Lassi Corner, we strive to help people transform..
    Locations looking for expansion Karnataka
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 125
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • About Us: An award-winning institution located in New Delhi’s Punjabi Bagh,..
    Locations looking for expansion New Delhi
    Establishment year 2008
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts