Furnishing details on data bank compulsory for all MSMEs: Govt
Ministry of Micro, Small and Medium Enterprises (MSME) Secretary K K Jalan, on Monday urged the MSMEs to update the details of their enterprises on the MSME data bank. This, he said was mandatory the updated data would be used for evolving parameters for the growth of the sector in the country.
Delivering the inaugural address at the FICCI-CMSME’s sixth annual MSME Summit on the theme ‘Propelling MSME Growth: Ways & Means’, Jalan said that the government was also planning to identify 25-30 sub-sectors in MSMEs and focus on these sectors for raising productivity and enhancing the overall landscape of MSMEs.
Jalan said that there is a need to carry out academic work in the space to understand the challenges and issues of the sector. He suggested that FICCI should come out with knowledge papers focusing on the specific concerns of the sector.