The Ministry of MSME vide circular 2nd March, 2022 has issued a draft MSME policy document for MSMEs in India. The MSMEs seeks to Stimulate efficiency and productivity of MSME sector to generate income, employment and become part of domestic and global value chains taking into account structural transformation, competitive edge, demographic dividend and regional balance.
Following are the objectives of the policy:
- To facilitate build a vibrant eco-system for the rapid growth of the MSME sector.
- Identify and sensitize stakeholders to promote MSMEs to the best of their potential.
- Create physical infrastructure and linkages (backward & forward), amenable to MSMEs, Ensure access to credit, risk capital, raw material and marketing facilities for MSMEs.
- Develop a framework for accessible and affordable Technology upgradation and Capacity Building for MSMEs as well as harnessing the potential of technological advancement to deliver services to stakeholders especially MSMEs
- Promote a Conducive Business Environment covering ‘ease of doing business’ (EoDB) and suitable exit code.
- Develop appropriate dispute resolution mechanism.
