App was developed by students of Delhi University.
By The American Bazaar Staff
NEW DELHI: India’s Union Cabinet Minister of Micro, Small and Medium Enterprises (MSME) Kalraj Mishra, launched an android application especially prepared for MSME sector by PHD Chamber of Commerce, at the inauguration of the 2nd Innovation Summit-2014, here.
The Android App, PHD-MSME App, has been developed with the help of students of Delhi University. It provides solutions to budding entrepreneurs and existing MSME entrepreneurs of different dimensions like marketing, finance, training and capacity building, different government schemes and opportunities, according to a press release.
In his address, Mishra said that micro, small and medium enterprises across the country needed capital at relaxed rates of interest to run their enterprises, as well as contribute substantially to India’s manufacturing sector. He informed that he’s been lobbying with the public sector banking enterprises to extend loan facilities to micro, small and medium enterprises at base rate.
:To ensure this, I am meeting the senior functionaries of banking and financial institutions at Lucknow on Thursday, so that an earlier decision is taken on this front with their concurrence which will be duly endorsed subsequently by the Reserve Bank of India, Finance Ministry and the Prime Minister’s Office”, said Mishra.
He added: “My ministry has been working hard to make sure that the new government succeeds in setting up of Credit Guarantee Trust Funds to extend liberal packages to MSME as a whole and inputs have already been incorporated in the new draft MSME Policy which is at the advanced stage of finalization. The government proposes to roll out the new policy in the next 30 days.”
As per stipulation of the new policy, the general procedures as well as procurement procedures would be vastly simplified and all clearances for setting up of micro and small businesses would be accorded online within a fixed period of 15 days, assured Mishra.
The President and Vice President of PHD Chamber, Sharad Jaipuria and Mahesh Gupta complimented the government for being proactive towards the industry by formulating policies that would accrue higher growth to India.