No Research On Pros & Cons Of Foreign Investment In MSME Sector: Mos MSME

12/8/2023 4:18:09 AM

(MENAFN- KNN India) New Delhi, Dec 8 (KNN) The MSME Ministry has conducted no specific study on the advantages and disadvantages of foreign investment in MSMEs sector from competitiveness and viability point of view, informed the Minister of State for MSME, Bhanu Pratap Singh Verma in a written reply to the Lok Sabha on Thursday.

The MoS termed Foreign Direct Investment (FDI) as an enabling policy, which is uniformly applicable irrespective of scale and size of eligible investee entities.

To promote FDI, the government has put in place an investor-friendly policy, wherein most sector/activities including MSMEs except certain strategically important sectors/activities are open for 100 per cent FDI under the automatic route, he mentioned in the reply.

He gave details of the various schemes and programmes aimed at promotion and development of MSME sector in the country.

These schemes/programmes include MSME Champions Scheme, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Prime Minister's Employment Generation Programme (PMEGP), Micro and Small Enterprises - Cluster Development Programme (MSE-CDP) and Raising and Accelerating MSME Performance (RAMP).

Further the Government has taken a number of initiatives to support the MSME Sector, he said.

(KNN Bureau)

MENAFN08122023000155011030ID1107559407

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.