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Micro, Small and Medium Enterprises (MSMEs) have an important role in India’s overall development and remain a key part of the economy, officials said at a vendor development programme in Akola. The two-day programme was organised by the Development and Facilitation Office in Nagpur under the Union Ministry of Micro, Small and Medium Enterprises to support MSMEs and improve their access to government initiatives. Maharashtra State Seeds Corporation Managing Director Dilip Swami stressed the need to ensure that the benefits of Central and state government schemes reach enterprises at the grassroots level.
Micro, Small and Medium Enterprises (MSMEs) are an important part of the country’s economic development and continue to serve as a backbone of the economy, an official said during a programme in Akola.
Maharashtra State Seeds Corporation Managing Director Dilip Swami said that it was important to ensure that the benefits of various schemes introduced by the Central and Maharashtra governments reach MSMEs at the grassroots level.
Swami was speaking at the inauguration of a two-day Vendor Development Program organised for MSMEs in Akola district by the Development and Facilitation Office in Nagpur under the Union Ministry of Micro, Small and Medium Enterprises.
The programme was aimed at bringing MSMEs into closer engagement with buyers and institutions while creating greater awareness about opportunities and government support available to the sector.
Regional Director of the MSME Development Office, V R Shirsat, said the Micro, Small and Medium Enterprises Development Act, 2006 provides the legal framework for promoting, developing and improving the competitiveness of enterprises in the manufacturing and services sectors.
The Act also provides the basis for classifying enterprises according to their size and enables them to access various forms of institutional support. Shirsat said the legislation has an important role in helping MSMEs access credit and ensuring that payments due to them are made on time.
The emphasis on timely payments is particularly relevant for smaller enterprises, as delays in receiving dues can affect their working capital and day-to-day operations. The legal framework under the Act is intended to address such concerns while supporting the growth and competitiveness of MSMEs.
The vendor development programme therefore brought attention to both the opportunities available to MSMEs and the institutional mechanisms created to support their participation in the wider business ecosystem.
Source PTI
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