The Confederation of Indian Industry (CII) MSME survey ranks infrastructure development the most important factor, followed by simplification of labour laws and promotion of innovation and cutting-edge technology, for repositioning of Indian MSMEs in the changing global scenario.
Revealing the factors that inhibit growth and development, the CII MSME survey highlighted high cost of credit, procurement of raw material at a competitive cost and delayed payments, in decreasing order of importance.
As regards the approved components of National Manufacturing Competitiveness Programme (NMCP) schemes, 70-75 per cent of respondents are aware of these schemes. However 60-70 per cent of respondents are not availing themselves of the benefits.
According to the survey, 47 per cent of respondents are registered under the MSMED Act 2006; 30 per cent of respondents reported they are not registered under this Act; 9 per cent of respondents reported they are not aware of this Act, and 14 per cent feel registration under the Act is not required for their enterprise.
The MSME survey (the first in the 2010-11 series) was undertaken to identify key factors inhibit growth and development of MSMEs.
The principal findings of the survey are based on responses from a broad spectrum of industry groups and activities of the MSME members of CII from all over the country.