Sunday, July 25, 2021

Govt simplifies registration process for MSMEs

The Government has simplified the registration process for the Micro, Medium and Small Enterprises, MSMEs. Now only PAN Card and Aadhaar will be required for registration of MSMEs. This was announced by the Micro, Small and Medium Enterprises Minister Nitin Gadkari.

Addressing a webinar yesterday, Mr. Gadkari has said there is a need to impart training to small units in the fields of entrepreneurship and other related aspects. Assuring full support to the MSME industry by the Government, he expressed hope that banks and Non Banking Financial Companies would come forward to provide support to small businesses.

The Minister said, MSMEs contribute significantly in the economic and social development of the country by fostering entrepreneurship and generating huge employment opportunities. He said the vision of MSME aims towards building a supporting ecosystem for this sector to enhance their contribution towards a five trillion dollar economy. He said, in order to boost the economic activities of MSMEs, the Government had announced a special incentive package of 20 lakh crore rupees under Aatmanirbhar Bharat Abhiyan.

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