MSME Ministry Urges Industry To Share Inputs To Strengthen MSME Resilience Amid Economic Disruptions

2025-09-10 02:09:39

(MENAFN- KNN India) New Delhi, Sep 10 (KNN) Industry stakeholders and policymakers on Tuesday emphasised the need for micro, small, and medium enterprises (MSMEs) to build resilience in an era of economic disruptions, during an event organised by PHDCCI in New Delhi.

Ateesh Kumar Singh, Joint Secretary, Ministry of Micro, Small and Medium Enterprises, called on industry to actively engage with government data sets and provide sector-specific inputs to strengthen MSMEs.

He noted that 2.0 versions of government initiatives are being developed alongside legal reforms, designed to ease compliance while addressing emerging regulatory obligations and improving ease of doing business, according to ET.

Rajan Sudesh Ratna, Deputy Head and Senior Economic Affairs Officer, United Nations ESCAP, New Delhi, outlined strategies for MSMEs to enhance resilience.

These included export diversification through initiatives such as Atmanirbhar Bharat, Digital India, and Vocal for Local, greater utilisation of Free Trade Agreements (FTAs) with government support, accelerated digital adoption, and proactive measures to secure market access for MSMEs.

Murali Kallummal, Head of Administration, Centre for Research in International Trade (CRIT) and Professor at the Indian Institute of Foreign Trade's Centre for WTO Studies, suggested revisiting the sectoral definition of MSMEs, improving data availability for informal enterprises, and developing interfaces between MSMEs and HS Codes to guide FTA negotiations.

Participants also discussed the anticipated impact of GST 2.0 on MSMEs, noting that the reforms are expected to simplify compliance, reduce production costs, and open new pathways for domestic trade and export diversification.

They observed that lower costs would benefit consumers while providing opportunities for industry growth.

The discussions highlighted the importance of a collaborative approach between the government and MSMEs, leveraging policy reforms, digitalisation, and trade facilitation to strengthen competitiveness and resilience in a rapidly evolving economic landscape.

(KNN Bureau)

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