New Delhi, Mar 4 (KNN) Prime Minister Shri Narendra Modi, addressing the Post-Budget Webinars, reaffirmed the government’s commitment to strengthening Micro, Small, and Medium Enterprises (MSMEs) and bolstering India’s economic resilience.
The webinar, focusing on MSMEs as an engine of growth, manufacturing, exports, and business reforms, witnessed significant deliberations on policy execution and investment facilitation.
Highlighting India’s economic trajectory over the past decade, PM Modi stated that India has demonstrated consistent reforms, financial discipline, and transparency, instilling confidence within the industry.
He emphasised that the government’s stable policy environment has positioned India as a key economic partner on the global stage.
Encouraging manufacturers to capitalise on global partnerships, the Prime Minister urged stakeholders to leverage policy consistency and ease of doing business initiatives.
He noted that over 40,000 compliance burdens had been eliminated, simplifying tax provisions and facilitating investments. Additionally, he highlighted the Jan Vishwas 2.0 Bill, aimed at modernising and streamlining regulatory frameworks.
Discussing the challenges posed by the COVID-19 pandemic, PM Modi credited India’s resilience and self-reliance initiatives for mitigating economic setbacks.
He asserted that India continues to act as a growth engine for the global economy and called upon industries to seize opportunities in the evolving global supply chain.
The Prime Minister underscored the importance of Research & Development (R&D) in manufacturing, urging industries to focus on innovative and value-added products.
He specifically highlighted sectors such as toys, footwear, and leather, which, when integrated with modern technologies, could position India as a global leader.
Recognising MSMEs as the backbone of India’s industrial growth, PM Modi noted that the government’s decision to revise MSME definitions in 2020 had spurred sectoral expansion, with over six crore enterprises providing employment to millions.
He also announced a doubling of the guarantee cover for MSME loans to Rs 20 crore and the introduction of customised credit cards with a Rs 5 lakh limit to meet working capital needs.
The Prime Minister called for stronger state participation in boosting investments and promoting progressive policies to attract businesses.
He concluded by emphasising the importance of collaborative efforts in implementing budget strategies, ensuring impactful economic development, and fostering inclusive growth.
(KNN Bureau)
