The Confederation of Indian Industry (CII) will facilitate the flow of investment by the non-resident Indians (NRIs) in micro small and medium enterprises (MSME) in Uttar Pradesh.
“We will work closely with the state government and encourage the Indian diaspora to invest in the MSME sector here,” CII northern region chairman Harpal Singh said addressing a workshop on ‘MSMEs in Challenging Times’ here recently.
He said CII was committed to facilitating capacity enhancement by MSMEs. “The MSMEs in UP should gear up to face these challenging times ahead,” Singh, who is also chairman emeritus Fortis Healthcare Limited, said adding the sector should now focus on making more eco-friendly products.
“CII will work closely with MSMEs in the next two years as the sector has immense employment and development potential. It can be the growth engine for boosting exports and industrial production,” he said.
He further stressed that a separate exchange for funding was needed for the MSMEs falling in the Rs 4-50 crore segment. “Almost 8 per cent of our gross domestic product (GDP) is accounted for by the MSME,” he informed.
CII has assured the UP government to act as interlocutor with the central ministries and departments in matters related to MSMEs so that the central funds could flow to the various clusters in the sector
