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The Kanara Chamber of Commerce and Industry (KCCI), Mangaluru, has said that there is a need for measures of demand push for the MSME (micro, small and medium enterprises) sector.
Isaac Vas, President of KCCI, told BusinessLine that MSMEs need creative measures of demand push to give confidence and support for entrepreneurs to go ahead in the post-Covid ‘battlefield’.
The grass-root level demand should grow to pull MSMEs out from the crisis. “We want grass-root level push to increase the demand,” he said.
Stating that no one is spending now, he said MSMEs will be in trouble if the demand does not grow. The government should be creative to see that whatever action it takes should push demand for products.
Complimenting the government for keeping its ears to the ground and for responding in real time, Vas said the reduction of TDS rates or extension of filing dates are mere responses expected of any government.
On the government’s plan to provide equity funding for MSMEs, he said it might not be received well, as MSMEs mindset is to keep ownership close to their chest.
Terming the announcement of the Union Finance Minister to disallow global tender for government procurement up to ₹200 crore as a bad move, he said this will reduce competition and create the old socialist policy.
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