Financial Daily from THE HINDU group of publications
Monday, Apr 24, 2006
Financial Daily from THE HINDU group of publications Monday, Apr 24, 2006 |
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Industry & Economy
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SSI Government - Policy SME Bill to be passed soon Our Bureau
Chennai , April 23 The Small and Medium Enterprises Bill, pending with Parliament since May 2005, will be passed into an Act soon, Mr Anupam Dasgupta, Secretary, Ministries of Small-Scale Industries and Agro & Rural Industry, said on Sunday. Delivering the inaugural address at the Fourth Commonwealth-India Small Business Competitiveness Development Programme, Mr Dasgupta said that the Bill was a recognition of the crucial role that the small and medium enterprises play in the country's economy. The programme is meant to be an opportunity to discuss issues pertaining to small industries development, besides "pooling resources, capabilities and minds". Observing that the market "did not always do justice to those at the periphery of the market", Mr Dasgupta said that the government needed to "step in". While pointing out that the Indian definition of a small-scale company was one that had less than Rs 1 crore in plant and machinery, Mr Dasgupta said that there was no official definition as yet of micro and medium enterprises. Mr George Saibel, Director, Special Advisory Services Division, Commonwealth Secretariat, said the programme was catalysed (and partly funded) by the Commonwealth Fund for Technical Cooperation. The event is jointly organised by the Government of India through the National Small Industries Corporation, Exim Bank of India, the M.S. Swaminathan Research Foundation, Chennai and the Commonwealth Secretariat. Mr K. Muthukumaran, General Manager, Exim Bank of India, said the bank uses its contacts abroad and experience in dealing with exports to help small and tiny enterprises build sufficient export-capabilities.
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