MSME Ministry launches hub for SC/ST entrepreneurs

The micro, small and medium enterprises (MSME) Ministry has taken several measures for effective implementation of the public procurement policy, […]

   
Companies ordered to disclose dues to MSMEs

The micro, small and medium enterprises (MSME) Ministry has taken several measures for effective implementation of the public procurement policy, including constitution of a review committee to monitor the progress of implementation of the public procurement policy and the launch of SC and ST hub to provide support to SC and ST entrepreneurs. The efforts also include the launch of MSME Sambandh portal to monitor the progress of procurements from micro and small enterprises (MSEs), including the ones owned by SC and ST and the women. As per official sources, the annual procurement of goods & services from MSME by the central public sector enterprise (CPSE) during 2017–‘18 stood at 24,226.51 crore in which the share of procurement from MSEs owned by SC/ST entrepreneurs is 442.52 crore. In fact, the public procurement policy for the MSME has mandated that every central ministry, department, PSU will set an annual goal of minimum 20 per cent of the total annual purchases from the products or services produced or rendered by MSEs. Though, the government has recently revised the order in making it compulsory for all CPSEs to procure 25 per cent from MSMEs, up from the 20 per cent that was mandated earlier. Moreover, out of the total annual procurement from micro and small enterprises, 3 per cent from within the target will be earmarked for procurement from MSEs owned by women. The sources said, a sub-target of 4 per cent out of annual procurement is earmarked for procurement from MSEs owned by SC/ST entrepreneurs.  





Trending

Neo-banks in India-Filling the Digital Expectations Gap in the Banking Sector

Neo-banks: The next revolution in Indian banking sector

Rehan Dhorajiwala

“We first need a substantial support for production to even think about meeting domestic demand”: Rehan Dhorajiwala, All India Toy Federation (AITF)

Hotel Operations in COVID-19 Era; Revamping Protocols and Technology is the Key for Recovery

Revamping protocols and technology: Hotel industry is looking to reboot in the new normal

COVID-19 Impact: Record decline in Securitisation Volumes

Covid-19 impact: record decline in securitisation volumes

Nitin Gadkari approves new scheme to make India aatmanirbhar in agarbatti production

Nitin Gadkari approves new scheme to make India aatmanirbhar in agarbatti production

Impact of coronavirus on real estate

Knight frank report: real estate stakeholders expect improvement in next 6 months

essentials lockdown

Know what people stockpiled most during lockdown?

MSME credit scheme: 43% of Rs 3 lakh crore sanctioned

RBI LOANS

FM Sitharaman: In talks with RBI to restructure loans, extend moratorium

PM Modi, msme loans

Prime minister Modi tells bank chiefs to boost MSME loans

25 - 20 million MSMEs lost jobs

25-30 million lost jobs in MSMEs, 10-15 million jobs on the verge

K-Satyanarayana-Ecom-Express

India is consumption based economy and it needs logistics more than ever now: K Satyanarayana, Ecom Express