Cong MP raises issues of MSMEs in Lok Sabha
Thursday, 17/07/2014
http://www.tribuneindia.com/2014/20140717/ldh1.htm#19
Ludhiana : Congress Member of Parliament (MP) Ravneet Singh Bittu today raised the issue of outdated machinery and technology being used by the Micro, Small and Medium Enterprises (MSMEs) of Ludhiana and Mandi Gobindgarh in the Lok Sabha.
Demanding reduction of the import duty on second-hand machinery to help the MSMEs upgrade their machinery and technology, Bittu said the present high import duty on such machinery was between 40-60 per cent, which was hampering the modernisation and upgrade of MSMEs in terms of their production capacity.
The MP said the MSMEs were a pillar of the Indian economy. They contribute nearly 8 per cent to the country’s GDP. Besides, they contribute 45 per cent of the manufacturing output, 40 per cent of the exports and also provide the largest share of employment opportunities, next only to agriculture.
