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Economy

He added that MSME clusters hope trepreneur and importer told that they
for a budget that understands the needs were awaiting the government’s decision
of small and medium outfits. The MSMEs The NDA Government on their shipment stuck at the Kochi Port
are indispensable for the big industries. post the revision of import duty by 200
A sluggish MSME sector is a bad signal announced to revise the percent on imports from Pakistan. “Our
for the economy struggling to achieve its definition of MSME when containers shipped out of Karachi Port
growth targets. onto the vessel before the notification of
P K Jain, former President of PHD it assumed power in hike in duty by 200 per cent on16 Febru-
Chamber of Commerce and Industry 2014. An MSME in India is ary 2019. We have no intention to trade
told that availability of finance to MSMEs with Pakistan but hope the government
has been curtailed due to huge NPAs in defined as an enterprise would consider our petition on relaxing
banking sector. Industrial activity can- with an investment the revised duty”, he said.
not pick up until easy and long-term fi- The recent trends like Fall in the car
nance is available for production. To reap of Rs 5 cr in plant and sales of Maruti-Suzuki by 18.7 per cent,
the benefits of revival in demand, timely machinery crisis in NBFCs (Non-Bank Finance Com-
availability of capital is a must. During panies), slowdown in FMCG companies,
the last three years, MSMEs have made Jet Airways crisis and huge inventories
minuscule capital investments. “We ex- be uniformity in taxes. If GST is imple- with construction companies are indica-
pect the government to lay thrust on mented in the entire country as one tax tive of an impending slowdown. Aggres-
MSME sector as the progress of MSMEs then the discrimination in other forms sive measures to pump in energy in the
will have a cascading effect on the econ- is not healthy for the business. We hope economy are what every business entity,
omy”, he added. our representations to the government whether small or big is aspiring. Will the
The ginning mills in Haryana con- will now bear fruit and relaxation in new NDA Government be able to bear a
tend for a level playing field. According market fee on cotton in Haryana will be heavy load of expectations?
to Sushil Mittal, President of Haryana announced”.
Ginning Mills Association, “There should Arun Jimmy, Ernakulam based en- letters@tehelka.com

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