Hotline: 1800 102 2007
X
Search Business Opportunities
2013-04-04

MSMEs vital for economic growth: President

Speaking at the National Awards ceremony for micro, small and medium enterprises (MSMEs) and banks, President Pranab Mukherjee said that MSMEs are vital for India\'s economic growth and they need to get more institutional credit.

Speaking at the National Awards ceremony for micro, small and medium enterprises (MSMEs) and banks, President Pranab Mukherjee said that MSMEs are vital for India's economic growth and they need to get more institutional credit.

These enterprises are "perhaps the most crucial link between India's economic growth and socio-economic transformation," the president said in his address.

The president said the challenges to the MSME sector in India were many.

If the sector had to be a true agent of socio-economic change, "we must direct our efforts at increasing the competitiveness of this sector by enhancing the availability of institutional credit," he stated.

The president suggested that they should also go for innovation and technology, provided with adequate industrial infrastructure, skill development and market support.

While commenting upon the finance needs of SMEs, Mukherjee said that there was a need to increase the reach and coverage of financial institutions by expanding branch network to locations near industrial clusters.

The MSME units could prosper only if there was a concerted effort at widening the market for their products, Mukherjee stated.

Related opportunities
  •    About Us:  We began our Journey in 2007 with best in..
    Locations looking for expansion Kharodi
    Establishment year 2008
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Kharodi
  • About Us: MCTA provides Job Ready Certification Programs in Digital Marketing..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 650
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Kids Entertainment Zones
    About Us: Little Kickers is UK’s biggest and most successful pre-school..
    Locations looking for expansion Oxon
    Establishment year 2002
    Franchising Launch Date 2002
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Blewbury Oxon
  • Quick Service Restaurants
    About Us: Biryani queen is a unique & Conceptualized QSR brand,..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi 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