Hotline: 1800 102 2007
X
Search Business Opportunities
2010-09-21

President to MSME’s rescue

President Pratibha Devi Singh Patil has asked financial institutions and banks to increase the flow of credit to micro, small and medium enterprises (MSMEs).

President Pratibha Devi Singh Patil has asked financial institutions and banks to increase the flow of credit to micro, small and medium enterprises (MSMEs).

“Availability of adequate credit is paramount to the success of the micro and small enterprises. It must be kept in mind that it is the vulnerable unorganized enterprises which are still perceived as risky by financial institutions, and suffer the greatest constraint in access to credit because of the very nature of operations especially of the traditional cottage industries. I urge banks to give special attention to this aspect,” Patil said at a MSME award function.

Highlighting the importance of MSME sector in the nation’s economic activity, she further said, “In India, these enterprises account for almost 45 percent of manufacturing output, 95 percent of the number of industrial units and 40 percent of exports. Clearly, they are engines of growth. Besides, the sector provides employment to almost 60 million people, making it the largest source of employment after the agriculture sector.”

The President called upon the MSME’s especially of the traditional sector to employ cost effective technologies, in sectors like coir industry, which employ about 5.5 lakh persons, many of whom are women in the coconut growing states of the country. She further added, “It is undeniable that technology and innovations are game changers, being the key determinants of increasing productivity through improvement in skills, better capital equipment and better systems”.

Related opportunities
  • Tea and Coffee Chain
    About Us: Bubble Rush is a bubble tea restaurant from the..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Car wash / Ceramic Coating / Detailing
    COZI CARS - Mobile Car Wash/Spa & Detailing Franchise Opportunity You Must GRAB!!..
    Locations looking for expansion New Delhi
    Establishment year 2010
    Franchising Launch Date 2014
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New Delhi New Delhi
  • Casual dine Restaurants
    Café Udupi Ruchi, is a restaurant which will provide the..
    Locations looking for expansion Karnataka
    Establishment year 2014
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Rural District Karnataka
  • Other Vocational Training
    Ever since its inception way back in 1998, IWP has..
    Locations looking for expansion Delhi
    Establishment year 1998
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 1200
    Franchise Outlets -NA-
    Franchise Type Unit
    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