A simple and transparent methodology should be evolved to give ratings to MSMEs, says Nitin Gadkari

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Delhi: While addressing a virtual meeting Union Minister Nitin Gadkari on Wednesday called for creation of ratings system for MSMEs and a dashboard for effective monitoring of schemes for the Micro, Small and Medium Enterprises.

Minister of MSME and Road Transport and Highways Gadkari said a simple and transparent style should be evolved to give ratings to MSMEs having good turnover and GST records to enable them to get finances from the banks and institutions. While addressing a virtual meeting by the Chamber of Indian MSME, CIMSME, he also said that the entire world now wants to invest in the Indian Industry and MSMEs to get good investments from abroad with an effective rating system.

Gadkari proposed setting up of Dashboard for monitoring schemes to prevent delays in decision making .

Gadkari asked SIDBI to take decisions within three months and provide support and said SMEs have an important role to play in achieving the Prime Minister’s vision of Atamanirbhar Bharat as per official release he said it is time to make the system transparent, time-bound, result and performance-oriented.

MSME contributes Nearly 30 per cent to the country’s GDP and also provides employment to more than 11 crore people which in terms of volume is second after the agricultural sector.