Tuesday, October 4, 2022

Govt will buy 10% bonds issued by MSMEs: Nitin Gadkari

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New Delhi: Union Minister for MSMEs Nitin Gadkari has said that the government will buy 10 percent of the bonds issued by MSMEs to support them in tapping the capital market. Speaking at the ‘12th IWEC Awards & Conference — Connecting Women Businesses Globally: Leading the Way to Innovation and Integration,’ organised by FICCI Ladies Organisation (FLO), Gadkari said that the MSME is an important sector which is directly related to the growth of the country.

“MSMEs account for 49 percent of the exports from the country. We are planning new schemes to support the MSMEs that have good potential for exports. If MSMEs raise bonds in the capital market, 10 percent will be purchased by the government,” he said.

What’s on offer for foreign women entrepreneurs?

Replying to queries from several foreign women entrepreneurs with interest in setting-up businesses in India, Gadkari suggested that having an Indian partner would help navigate the regulations in the country and benefit from various government schemes and incentives present in different sectors.

“We are going to start digital data-based credit rating system (MSMEs). You can get the rating of an industry from anywhere. It will help you in taking decisions,” he said, adding that India has a huge potential both in rural areas and big cities, and the government will extend all support to those wanting to start manufacturing here.

Success stories of women entrepreneurs?

Gadkari also said that the government, in association with FICCI FLO, will publish success stories of 100 women entrepreneurs from different sectors soon. “We will also make a website to host these success stories. The website, too, will give a good idea for your decisions,” he added.

Ms Harjinder Kaur Talwar, FLO President and Global Ambassador, International Women’s Entrepreneurial Challenge (IWEC) Foundation said that the government should create more opportunities for women entrepreneurs.

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