IamSMEofIndia’s suggestion: A clear, transparent and formality-free policy is necessary for simple, accessible and comprehensive financial assistance to industries

Faridabad, 21 April, 2024– Leading industrial organization IamSMEofIndia has stressed the need to provide simple, fast and inclusive financial assistance to the MSME sector in the current environment.
Expressing his views in a special program organized by the Department of Financial Inclusion and Development of Reserve Bank of India in New Delhi, Chairman of IamSMEofIndia, Mr. Rajive Chawla said that there is a need to provide simple, accessible and comprehensive financial assistance to the industries. For this, the government policy should be clear, transparent and free from formalities.
Mr. Chawla said that Indian enterprises have been performing well despite various challenges for the last decade, Indian economy is moving towards a developed economy, hence there is a need to make the process of providing financial assistance to industries easier and RBI should give clear instructions to banks and financial institutions in this regard that their attitude towards MSME sector should be positive and constructive.

In a meeting organized for micro, small and medium class entrepreneurs of Okhla industrial area located in South East district, Mr. Chawla said that today the Indian economy is moving towards strength at the international level, we are moving towards a developed nation. In such a situation, it is necessary to pay special attention to the MSME sector which is playing the most important role in the economy. Shri Chawla said that for the strength of the economy, while strong GDP is necessary, 100 percent employment and effective infrastructure are also necessary.

Shri Chawla said that it is an undeniable truth that as we move towards development, challenges also come before us. On the same lines, challenges are increasing before the MSME sector of the country as this sector is moving towards progress. You urged the Reserve Bank of India to take concrete steps to improve financial arrangements. Shri Chawla expressed confidence that RBI will implement effective policy as per the suggestions received in this special meeting and the MSME sector will benefit from it.