Exploring rating and effective implementation of Fund of Funds Required: Gadkari

May 17: Union Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has said that the relief package announced by the Union Government for different stakeholders/sectors including MSME, labour, agriculture etc. and the new definition of MSMEs will give huge boost to industry. He called for exploring the rating of MSMEs and asked the participants to give suggestions for effective implementation of Fund of Funds announced as part of the package for MSMEs.

Shri Gadkari said this today while addressing meetings with the representatives of Business Network International and MM Activ Sci-Tech Communications via video conferencing on “Impact of COVID-19 on MSMEs” and “Future of Indian Industry after 20 lakh crore package” respectively.

Shri Nitin Gadkari also said that there is need to explore Agro MSME and Fishing MSME sector.

The Minister stated that all the stakeholders including government are facing challenges due to COVID -19. He urged the industry to maintain a positive attitude during these difficult times to tide over the present crisis as negativity is not in anybody’s interest.

Shri Gadkari mentioned that industry should focus more on innovation, entrepreneurship, science and technology, research skill and experiences to convert the knowledge into wealth.

Some of the questions asked and the suggestions given included: How to leverage “Blessing in Disguise” mentioned by the Minister, what more BNI can do to make an impact on society, what is the message for companies who are in problem during COVID-19, increasing the limit of MUDRA loans to 25 lakh to benefit micro enterprises, issuance of simple guidelines for recently announced 3 lakh crore collateral-free automatic loans for MSMEs etc.

Source: PIB