New Delhi: The quality control orders (QCOs) issued by the government for different products will protect MSMEs from unfair competition and help cut the import of sub-standard goods, Commerce and Industry Minister Piyush Goyal said on Saturday.
He said that through these orders, the government is supporting the MSMEs (micro, small and medium enterprises).
"We are giving time to MSMEs to meet the QCO requirements," he said, adding that MSMEs will benefit from these orders as "it stops substandard goods imported at strange rates from outside the country and thus helps the MSME sector by protecting it from unfair competition".
MSMEs should not be looked upon as merely a small enterprise, he added.
The entire ecosystem around big industries and enterprises comprises thousands of MSMEs, without whom they cannot succeed, he said, adding that MSMEs act both as suppliers and customers of big industries.
The sector also plays an important role in the tourism and infrastructure development of the country and has a big share in India's exports.
"Today, several SMEs have listed their firms at BSE," he said.
Under these orders, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. These orders are issued for goods like smart meters, nuts, bolts and fasteners.
Mandatory QCOs help curb the import of sub-standard products, prevent unfair trade practices and ensure the safety and well-being of consumers as well as the environment.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)