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Government to reduce laws governing MSME sector

Panaji: Small unit owners may be heading for relief from simpler set of laws for the Medium Small and Micro Enterprise (MSMEs) sector. On Wednesday, Rajesh Batra, head, Centre for MSME, Indian Institute of Corporation Affairs, Ministry of Corporation Affairs, N Delhi said that, the government is trying to remove plethora of rules and regulations governing the sector.  “There are 35 laws presently which MSME’s have to follow. Now we are trying to remove the unwanted law and unit owners will not have to go around through these unwanted laws,” said Batra, speaking at a workshop on MSMEs organised by the World Trade Center- Goa.

He said that, becoming an MSME should be hassle free. “Now the process of reformation has just started. Many new amendments will come into being to boost maximum Make in India projects.”

Several startup owners were a part of the workshop held at EDC head office, Panaji. Stating that, MSMEs play an important role in the economy, Batra pointed out that, lack of funds and lack of talent are main problems adversely affecting the sector’s growth.

The workshop covered issues and challenges facing the sector and  also government schemes and incentives to support small unit owners.

Earlier during the workshop, Rupa Naik, senior director, WTC- Mumbai talked about the role and importance of social media in promoting business. Urging local unit owners to use social media advantageously, Naik said, “if you are not using social media please join. It is a way of promoting your business do not talk about yourself but talk about your business put it on social media .keep yourself active on social media not for your personal cause but for your business.”

Cyril Desouza, assistant director, trade promotion, WTC Goa, highlighted the role of the WTC as a facilitator in bagging business.

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