The government has also decided to start a specially designed training
course on export management in order to educate SMEs on various domains like
institutional set-up for export promotion, export trade correspondence,
export incentives, INCOTERMS export documentation, export finance/credit,
export credit guarantee scheme/policies etc.
The relaxation in lending limits will help an additional funding of Rs
17,000 crore for the MSME sector, according to estimates by the Federation
of Indian Small and Medium Enterprises (FISME). On the other hand, the
credit monitoring cell would step in to resolve pending cases which have not
been resolved by the bank within 14 days.
"The government's latest decisions have been longstanding demands of the
SME sector. Getting help has always been a complicated process and remained
a big entry barrier for the not-too-savvy small entrepreneur. These
decisions come as welcome developments for all SMEs. I am sure, this will
not just boost the SME sector's growth, but will also provide fresh impetus
to small entrepreneurs to explore more efficient ways of contributing to the
nation's economy", says Dinesh Agarwal, CEO and Founder of IndiaMART.com.
"IndiaMART.com has always been an activist and evangelist in pushing for
a better deal for SMEs. These developments only vindicate the efforts made
by Mr. Dinesh Agarwal to help us grow,'' said an upbeat Mr. Manish Kumar,
CEO of Madhulika Online, Dhanbad. Parikh Packaging Pvt Ltd, which has been
an SME for the last 5 years, "SMEs are seldom heard by the government
because we are too small. IndiaMART has been our voice in front of the
government, and we are glad that the government has woken up and started
looking at the SME sector with a proactive policy." He concluded.
About IndiaMART.com
IndiaMART.com is India's largest online B2B marketplace connecting global
buyers with suppliers through business directories, online product catalogs,
buy-sell offers, industry specific marketplaces, printed media and trade
shows participation.
Founded in 1996, the company has a presence in over 100 cities pan-India.
With approximately 1000 employees, IndiaMART.com offers an extensive range
of value-added products and services to over 500,000 members and over 5
million global buyers across industries and verticals.
IndiaMART.com has won numerous awards over the years including Red
Herring 100 Asia & Emerging India and the company has been widely covered by
media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times,
Financial Express, etc. Its existing investors include Intel Capital and
Bennett, Coleman & Co. Ltd (Times Group), India's largest print media group.
For more information, please visit:
www.indiamart.com
