Give us interest subvention on Working Capital Loans: MSMEs in ESDM Sector

Sep 18: In a recently conducted core meeting of major players of businesses, startups, MSMEs and representatives of various Trade Bodies in the ESDM (Electronics System Design and Manufacturing) Sector, many business leaders aired the thought that more than giving subsidies or other stuff, it is imperative that the government gives interest subvention on working capital loans.

The Virtual Meeting which was held saw leaders of ESDM sector such as Jairaj Srinivas, PVG Menon, Sanjeev Keskar, Anilkumar Muniswamy, Uma Reddy, Shubhamangala Sunil, KVK Gupta, Vikram Redlapalli and Mr. Yatish who spoke on various points related to the short term and long term demands of the industry.

Some of the asks of the industry were

  1. 7% Interest subvention on Working Capital Loans subject to a cap of Rs 1 crore WC loans at 50% of the rate charged by PSBs.
  2. Tagging a source-from-MSME clause for public procurement
  3. Strengthening Tool Rooms and adding Labs
  4. Support for business promotion & Creation of Mentor Network
  5. Cyber Security
  6. Make in India Strategy for Electronic Products

and others…

Speaking to the meeting Mr. Jairaj Srinivas said, a detailed list of problems and issues will be collated and shall be submitted to Shri Ravi Shankar Prasad, Union Minister for Electronics and Information Technology