Hyderabad, Jan 18 (FN Representative) Mr B B Swain Secretary, Ministry of MSME, Government of India has assured to take necessary measures to resolve the difficulties faced by MSMEs. The Federation of Telangana Chambers of Commerce and Industry (FTCCI) on Tuesday conducted an interactive meeting with Mr Swain to highlight the issues and difficulties faced by MSMEs. Mr Swain assured that the Necessary measures will be taken. He informed that a new and better scheme is being worked out by the ministry and also the extension of CGTMSE is under consideration. He welcomed the suggestions for a separate MSE Development Act and said that all the acts that are available with the Ministry are being looked into for future improvement.
The Ministry is taking up with all the states for speedy dispersal of delayed payments cases in the MSE facilitation council and also suggested having a larger number of councils if necessary. He also suggested to the Federation to identify if any window is available to introduce PLI Scheme for any product. Mr Anil Agarwal, Sr. Vice President, FTCCI stated that Telangana is consistently recording a higher growth rate of GSDP than National Average and is one of the Top Ranked state in Ease of Doing Business. Though the Union Government and State Government are making efforts to minimize the stress among the MSMEs due to prevailing difficult phases and requested for Government intervention. Sri Srinivas Garimella, Chair- Industrial Development Committee, FTCCI highlighted the issues and suggested that MSME ministry workout a framework where it acts as a facilitator while ensuring that the ownership reminds the respective departments to resolve and find out solutions. The major issues highlighted are related to access to finance including lending methodology Term Loan Moratorium, Working Capital Moratorium extension as well as raise limits of CLCSS(Credit Linked Capital Subsidy Scheme) and CGTMSE, delayed payment problems, need for a separate MSE development act indiscriminate application of SARFAESI Act by the banks, a FTCCI statement here said.