Tuesday, August 16th, 2022 03:20:31

Govt exploring new financial lending institutions to support small businesses says Nitin Gadkari

Updated: May 26, 2020 4:45 pm

He said that government is working towards strengthening the Non- Banking Financial Companies (NBFCs) which will help small businesses to avail easy credit in the coming time. Addressing the members of Calcutta Chamber of Commerce on impact of COVID-19 on MSMEs through video conference, Mr Gadkari requested all the stakeholders to work in tandem and urged the industry to maintain a positive attitude during this time to tide over this crisis.

The Minister mentioned that special focus towards export enhancement, is the need of the hour. He further added that there is need to reduce the cost on production and logistics to become economically viable. He said that the current contribution of MSMEs in export is 48 per cent, which may be increased to 60 per cent.

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