'Landmark decision': PM Modi hails govt's move to include retail & wholesale trade as MSME

Hailing the union government for 'a landmark step of including retail and wholesale trade as MSME', PM Modi tweeted over the decision on Saturday. Minister of MSME and Road Transport and Highways Nitin Gadkari on July 2 announced revised guidelines for MSMEs with the inclusion of retail and wholesale trades as MSMEs. According to the new guidelines, more than 2.5 crore traders will be benefited. 

''This will help crores of our traders get easier finance,'' tweeted PM Modi. 

In his tweet, Nitin Gadkari also hailed Prime Minister Narendra Modi's 'leadership' and added that this Government is 'committed to make MSME the engine of economic growth of the country'. 

The decision was taken as the second wave of COVID-19 had a huge impact on retail and wholesale traders, added Minister of MSME and Road Transport. 

Nitin Gadkari emphasizes on Aatmanirbhar Bharat initiatives

Minister for MSME and Road Transport and Highways Nitin Gadkari on Monday, June 29, addressed a virtual conference on Indian MSMEs as growth engines to economy on the occasion of International MSME Day. The Transport Minister during the virtual meeting emphasized that all-round efforts are required for the implementation of various initiatives undertaken as part of Aatmabirbhar Bharat. Nitin Gadkari also mentioned that in the journey of making Aatmanirbhar Bharat, it is imperative that special focus is laid towards agriculture, food processing, leather and tribal industries. 

Launch of Udyam Registration Portal

Union Minister Nitin Gadkari while addressing the conference, urged to make use of technology and said that research, innovation and quality improvement can play a major role in industrial development. On the occasion of International MSME Day, he launched integrated services of Udyam Registration Portal with Common Service Centre (CSC) Portal to increase penetration of benefits of various Government schemes amongst MSMEs in far-flung areas.

Minister of State for MSME and Animal Husbandry, Dairying and Fisheries, Pratap Chandra Sarangi stated that Ministry is supporting MSMEs through various schemes and initiatives to enhance manufacturing competitiveness and unleash the true potential of MSMEs. He also emphasized the importance of Import substitution and encouraged MSMEs to adopt digital tools and techniques in unprecedented times, to re-build and craft new models that will ensure the speedy revival of their businesses and become future-ready.