Economy

MSMEs’ power costs need to be reined in: Nitin Gadkari

Our Bureau New Delhi | Updated on September 23, 2019 Published on September 23, 2019

Union Minister Nitin Gadkari   -  PTI

2-day BEE conclave to focus on financial, tech aspects of MSMEs

There is a need to reduce logistics, capital and power cost to make Micro, Small and Medium Enterprises (MSMEs) competitive in the international markets and to promote exports, said Nitin Gadkari, Minister for MSME, here on Monday.

“The three challenges that the MSME sector is facing are high logistics cost, capital cost and power costs,” said Gadkari while speaking at the conclave on ‘Enhancing Energy Efficiency in MSME sector’ organised by the Bureau of Energy Efficiency (BEE).

“Steps should be taken to reduce the cost in the areas where it is easy to make the sector competitive and increase its employment potential,” he added.

The two-day conclave would discuss strategies to promote energy efficiency while discussing issues such as technical and financial capabilities of MSMEs, capacity building and awareness programme.

“Industrial energy demand in India has almost doubled in the last five years and the growth is expected to continue with the demand for energy likely to go up by over three times between 2012 and 2040 respectively,” said RK Singh, Minister of State (Independent Charge) for Power.

“Therefore, adopting energy efficiency initiatives and implementing energy conservation guidelines would be the key drivers in reducing energy demand and strengthening energy security,” he added.

During the inaugural session, an MoU was also signed between the Director-General, MSME and BEE for developing a long-term road-map for enhancing energy efficiency and security for the MSME sector.

The MoU includes comprehensive energy mapping of MSMEs, developing of appropriate schemes and programmes to improve energy security of MSMEs.

Published on September 23, 2019
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