SHILLONG: Chief Minister Conrad Sangma on Monday termed the micro, small and medium enterprises (MSMEs) as “engines of growth” in the country but rued the wide gap in financial assistance to MSMEs and big corporate houses.
“If we look at the available figures, banks loan almost 85 per cent to large enterprises and only 15 per cent to the MSMEs. There is a gap in the support given to these small enterprises,” Sangma said at the Meghalaya Conclave of the National SC-ST Hub under the Ministry of Micro, Small and Medium Enterprises at State Convention Centre.In order to support entrepreneurs, the chief minister has also stated the need to encourage offices and institutions to buy locally produced products.
“Under the Public Procurement Policy for Micro and Small Enterprises (MSEs) Order 2012 every Central Government Ministries, Departments and Public Sector Undertakings are required to procure minimum of 20 per cent of their total annual value of goods or services from Micro and Small Enterprises and 4 per cent of total procurement of goods and services is to be made from Micro and Small Enterprises owned by SC & ST entrepreneurs,” he added.
Sangma urged all entrepreneurs to develop a competitive spirit to fuel creativity and innovation.
Addressing the gathering at the inaugural function, Sangma encouraged the gathering, especially the youths, to exploit the opportunities that the region has to offer and be a part of the economic growth story.
Among the officials and dignitaries present at the function were Minister for Commerce and Industries Sniawbhalang Dhar, Health Minister AL Hek, Inder Iqbal Singh, National Working President Forum of SC ST Legislatures and Parliamentarians, K.S. Siddique, Zonal Manager (NE), NSIC and Karanjit Singh Ngangbam, Deputy Director (SME), Ministry of MSME.
