Maruti Suzuki India chairman, R C Bhargava, on Saturday pitched for an urgent review in the government policies towards the Micro, Small amd Medium Enterprises (MSMEs) to promote investment and increase competitiveness in the sector.
Speaking at the Confederation of Indian Industry’s summit, he said that given increasing liberalisation and opening up of world markets, it was time that the domestic MSME sector sharply improved its productivity.
“Almost 90 per cent of all jobs in the manufacturing sector are provided by the MSME segment, while its output is less than 45 per cent,” he added.
Talleen Kumar, joint secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, pointed out that his department was awaiting final clearance for the payment gateway proposed for its soon to be launched e-biz portal.