Govt to set up task force for MSME

The government will soon set up a task force to address the problems of the micro, small and medium enterprises (MSMEs) sector that has been demanding availability of adequate financing and change in labour laws. MSME industry officials, who met Prime Minister Manmohan Singh on Wednesday to appraise him of their difficulties arising out of the global economic slowdown, said they were assured that the task force would submit a report within three months.

“Prime Minster said that a task force will be formed to help the MSME sector,” Federation of Indian Micro, Small and Medium Enterprises (FISME) Chairman Suresh Mohan told PTI.
Thesector, accounts for 45 pc of the manufacturing sector and employs 42 million people, has also demanded the setting up of an SME Stock Exchange to help raise finances easily. Industry associations  also stressed the need to amend various labour regulations.