 "Union Budget 2024-25: Here are the key challenges in the MSME sector")
Key challenges
Lack of market intelligence
Limited visibility and reach due to lack of branding
Complex trade compliance requirements
High cost of technology adoption
Unavailability of collateral to raise funding
Also Read
Industry ask
Include of labour-intensive sectors in PLI
National-level export promotion institution for a single point of contact
Reconsider 45 days payment rule to 60 days
Enhance NPA period from 90 days to 180
Revise turnover criteria for trade receivables discounting system from Rs 500 cr to Rs 250 cr
To realise the growth target of $35 trillion by 2047, it is key to address the bottlenecks that will require concerted efforts by both public and private-sector stakeholders. This should expand the domestic and export market for MSMEs”
Mohammad Athar, Partner & Leader, Industrial Infrastructure, PwC India