National Small Industries Corporation

(A Government of India Enterprise)

Facilitating the Growth of Small Enterprise since 1955

PM launches historic Support and Outreach Initiative for MSME sector


03 Nov 2018
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The Prime Minister, Shri Narendra Modi, today launched a historic support and outreach programme for the Micro, Small and Medium Enterprises (MSME) sector. As part of this programme, the Prime Minister unveiled12 key initiatives which will help the growth, expansion and facilitation of MSMEs across the country. They are: 59 minute loan portal to enable easy access to credit for MSMEs, Rebate in interest rate, Cash flow certainty, Technology Upgradation, Mandatory 25 percent procurement from MSMEs by CPSEs, Out of 25 percent 3 percent reserved for women entrepreneurs, Mandatory Membership of the Government e-Marketplace (GeM) for CPSEs to facilitate online procurement of common use goods and services, Formation of MSME pharma clusters, One annual return for MSMEs, Relaxation in environmental clearances, Inspections of factories in the MSME sector will be sanctioned only through a computerised random allotment and Ordinance for simplifying procedures for minor offences under Companies Act