Latest news with #Rajneesh
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Business Standard
3 days ago
- Business
- Business Standard
Government keen to increase credit availability to MSMEs, says official
He said that MSMEs provide employment to 27 crore people and that is why the ministry keeps them in mind while making policies The government wants to increase credit availability to micro, small and medium enterprises (MSMEs) and also improve them by enhancing technology, an official said on Friday. Addressing CII's Annual General Meeting, Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME said India is the fourth largest economy today and would be the third-largest soon. Rajneesh highlighted how MSMEs took a hit during COVID-19 but turned around very fast. He said that MSMEs provide employment to 27 crore people and that is why the ministry keeps them in mind while making policies. "We want to increase credit availability to MSMEs. This year Budget provided for providing credit cards to micro enterprises," he said adding MSME NPAs (bad loans) were less than 5 per cent in last five years as per RBI data. He also highlighted the role of technology to improve MSMEs, suggesting that through use of technology issues between environment concerns and growth aspirations can be resolved. Sunil Mathur, Managing Director and CEO of Siemens Ltd said, today average productivity level is 75 per cent in India whereas it is over 90 per cent in Europe and use of technology can help bridge this gap (productivity). He pointed that Indian MSMEs are dealing with challenges like access to market and finance. Shreekant Somany, CMD Somany Ceramics said digitisation helps MSMEs reduce cost and improve operational efficiency and suggested that MSMEs find new ways for rating them properly so that they get required financial facilities. "We must support MSME innovation hubs for improving quality of products to meet global standards," he said opining that regulatory compliance burden is heavy on MSMEs. Deepak Jain, Chairman Lumax Group said MSMEs represent the true entrepreneurship spirit of India. "We need to have very collaborative ecosystem... today ecosystems compete with each other, " he said citing example of China competing with other ecosystems globally. He stressed on the need to support MSMEs saying that supporting MSMEs should be a national competitive strategy. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
The Hindu
3 days ago
- Business
- The Hindu
Government keen on increasing credit availability to MSMEs: Official
'The government wants to increase credit availability to micro, small and medium enterprises (MSMEs) and also improve them by enhancing technology,' an official said on Friday (May 30, 2025). Addressing the Confederation of Indian Industry's (CII) Annual General Meeting, Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME said, 'India is the fourth largest economy today and would be the third-largest soon.' Mr. Rajneesh highlighted how MSMEs took a hit during COVID-19 but turned around very fast. He said that 'MSMEs provide employment to 27 crore people and that is why the Ministry keeps them in mind while making policies.' 'We want to increase credit availability to MSMEs. This year's Budget provided for providing credit cards to micro enterprises,' he said adding 'MSME NPAs (bad loans) were less than 5% in last five years as per RBI data.' He also highlighted the role of technology to improve MSMEs, suggesting that through the use of technology, issues between environment concerns and growth aspirations can be resolved. Sunil Mathur, Managing Director and CEO of Siemens Limited, said, 'today average productivity level is 75% in India, whereas it is more than 90% in Europe, and use of technology can help bridge this gap (productivity).' He pointed out that Indian MSMEs are dealing with challenges including access to market and finance. Shreekant Somany, CMD Somany Ceramics, said, 'digitisation helps MSMEs reduce cost and improve operational efficiency and suggested that MSMEs find new ways for rating them properly so that they get required financial facilities.' "We must support MSME innovation hubs for improving quality of products to meet global standards," he said, opining that regulatory compliance burden is heavy on MSMEs. Deepak Jain, chairman Lumax Group, said, 'MSMEs represent the true entrepreneurship spirit of India.' "We need to have very collaborative ecosystem... today ecosystems compete with each other," he said citing example of China competing with other ecosystems globally. He stressed on the need to support MSMEs saying that supporting MSMEs should be a national competitive strategy.
Economic Times
3 days ago
- Business
- Economic Times
Government keen to increase credit availability to MSMEs: Official
Live Events The government wants to increase credit availability to micro, small and medium enterprises ( MSMEs ) and also improve them by enhancing technology, an official said on CII's Annual General Meeting, Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME said India is the fourth largest economy today and would be the third-largest highlighted how MSMEs took a hit during COVID-19 but turned around very said that MSMEs provide employment to 27 crore people and that is why the ministry keeps them in mind while making policies."We want to increase credit availability to MSMEs. This year Budget provided for providing credit cards to micro enterprises," he said adding MSME NPAs (bad loans) were less than 5 per cent in last five years as per RBI also highlighted the role of technology to improve MSMEs, suggesting that through use of technology issues between environment concerns and growth aspirations can be Mathur, Managing Director and CEO of Siemens Ltd said, today average productivity level is 75 per cent in India whereas it is over 90 per cent in Europe and use of technology can help bridge this gap (productivity). He pointed that Indian MSMEs are dealing with challenges like access to market and Somany, CMD Somany Ceramics said digitisation helps MSMEs reduce cost and improve operational efficiency and suggested that MSMEs find new ways for rating them properly so that they get required financial facilities."We must support MSME innovation hubs for improving quality of products to meet global standards," he said opining that regulatory compliance burden is heavy on Jain, Chairman Lumax Group said MSMEs represent the true entrepreneurship spirit of India."We need to have very collaborative ecosystem... today ecosystems compete with each other, " he said citing example of China competing with other ecosystems globally. He stressed on the need to support MSMEs saying that supporting MSMEs should be a national competitive strategy.
Time of India
3 days ago
- Business
- Time of India
Government keen to increase credit availability to MSMEs: Official
The government wants to increase credit availability to micro, small and medium enterprises ( MSMEs ) and also improve them by enhancing technology, an official said on Friday. Addressing CII's Annual General Meeting, Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME said India is the fourth largest economy today and would be the third-largest soon. Rajneesh highlighted how MSMEs took a hit during COVID-19 but turned around very fast. He said that MSMEs provide employment to 27 crore people and that is why the ministry keeps them in mind while making policies. "We want to increase credit availability to MSMEs. This year Budget provided for providing credit cards to micro enterprises," he said adding MSME NPAs (bad loans) were less than 5 per cent in last five years as per RBI data. Live Events He also highlighted the role of technology to improve MSMEs, suggesting that through use of technology issues between environment concerns and growth aspirations can be resolved. Sunil Mathur, Managing Director and CEO of Siemens Ltd said, today average productivity level is 75 per cent in India whereas it is over 90 per cent in Europe and use of technology can help bridge this gap (productivity). He pointed that Indian MSMEs are dealing with challenges like access to market and finance. Shreekant Somany, CMD Somany Ceramics said digitisation helps MSMEs reduce cost and improve operational efficiency and suggested that MSMEs find new ways for rating them properly so that they get required financial facilities. "We must support MSME innovation hubs for improving quality of products to meet global standards," he said opining that regulatory compliance burden is heavy on MSMEs. Deepak Jain, Chairman Lumax Group said MSMEs represent the true entrepreneurship spirit of India. "We need to have very collaborative ecosystem... today ecosystems compete with each other, " he said citing example of China competing with other ecosystems globally. He stressed on the need to support MSMEs saying that supporting MSMEs should be a national competitive strategy.
Mint
3 days ago
- Business
- Mint
Govt keen to increase credit availability to MSMEs: Official
New Delhi, May 30 (PTI) The government wants to increase credit availability to micro, small and medium enterprises (MSMEs) and also improve them by enhancing technology, an official said on Friday. Addressing CII's Annual General Meeting, Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME said India is the fourth largest economy today and would be the third-largest soon. Rajneesh highlighted how MSMEs took a hit during COVID-19 but turned around very fast. He said that MSMEs provide employment to 27 crore people and that is why the ministry keeps them in mind while making policies. "We want to increase credit availability to MSMEs. This year Budget provided for providing credit cards to micro enterprises," he said adding MSME NPAs (bad loans) were less than 5 per cent in last five years as per RBI data. He also highlighted the role of technology to improve MSMEs, suggesting that through use of technology issues between environment concerns and growth aspirations can be resolved. Sunil Mathur, Managing Director and CEO of Siemens Ltd said, today average productivity level is 75 per cent in India whereas it is over 90 per cent in Europe and use of technology can help bridge this gap (productivity). He pointed that Indian MSMEs are dealing with challenges like access to market and finance. Shreekant Somany, CMD Somany Ceramics said digitisation helps MSMEs reduce cost and improve operational efficiency and suggested that MSMEs find new ways for rating them properly so that they get required financial facilities. "We must support MSME innovation hubs for improving quality of products to meet global standards," he said opining that regulatory compliance burden is heavy on MSMEs. Deepak Jain, Chairman Lumax Group said MSMEs represent the true entrepreneurship spirit of India. "We need to have very collaborative ecosystem... today ecosystems compete with each other, " he said citing example of China competing with other ecosystems globally. He stressed on the need to support MSMEs saying that supporting MSMEs should be a national competitive strategy.
