New Delhi, May 26 (IANS) The NITI Aayog on Monday released a report offering a comprehensive six-point road map for transforming India’s medium enterprises into future growth engines of the economy.
The report highlights that medium enterprises comprise a mere 0.3 per cent of the country’s MSMEs but account for 40 per cent of the sector’s exports, and outlines targeted interventions to unlock their full potential.
The report delves into the structural skew in the MSME sector, which contributes approximately 29 per cent to India’s GDP, accounts for 40 per cent of exports, and employs over 60 per cent of the workforce.
Despite its critical role, the composition of the sector is disproportionately weighted: 97 per cent of registered MSMEs are micro enterprises, 2.7 per cent are small, and only 0.3 per cent are medium enterprises, the report states.
The report underscores key challenges faced by medium enterprises, including constrained access to tailored financial products, limited adoption of advanced technologies, inadequate R&D support, lack of sectoral testing infrastructure, and a mismatch between training programmes and enterprise needs. These limitations hinder their ability to scale and innovate.
To address these issues, the report outlines a comprehensive policy framework with targeted interventions across six priority areas. These include introduction of a working capital financing scheme linked to enterprise turnover; a Rs 5 crore credit card facility at market rates; and expedited fund disbursal mechanisms through retail banks, overseen by the Ministry of MSME.
Upgradation of existing Technology Centres into sector-specific and regionally-customised India SME 4.0 Competence Centres to promote the adoption of Industry 4.0 solutions.
Establishment of a dedicated R&D cell within the Ministry of MSME, leveraging the Self-Reliant India Fund for cluster-based projects of national significance.
Development of sector-focussed testing and certification facilities to ease compliance and enhance product quality.
Alignment of skilling programmes with enterprise-specific needs by region and sector, and integration of medium enterprise-centric modules into existing Entrepreneurship and Skill Development Programmes (ESDP).
Creation of a dedicated sub-portal within the Udyam platform featuring scheme discovery tools, compliance support, and AI-based assistance to help enterprises navigate resources effectively.
The report emphasises that unlocking the potential of medium enterprises requires a shift toward inclusive policy design and collaborative governance. With strategic support in finance, technology, infrastructure, skilling, and information access, medium enterprises can emerge as the drivers of innovation, employment, and export growth. This transformation is pivotal to realising the vision of ‘Viksit Bharat @2047’.
The report, titled ‘Designing a Policy for Medium Enterprises.’ was launched by Suman Bery, Vice Chairman, NITI Aayog in the presence of V.K. Saraswat, Member, NITI Aayog and Arvind Virmani, Member, NITI Aayog.
–IANS
sps/rad
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
