PM Narendra Modi launched Champion Portal, will solve the problems of micro, small and medium industries in a time bound manner
Prime Minister Narendra Modi on Monday, the champion portal Champions.gov.in for Micro, Small and Medium Enterprises (MSME). Has launched. This portal will help MSMEs. With its help, their grievances will be resolved and will also help to encourage. Complaints received on the portal will also be redressed within the prescribed limit. Union Micro, Small and Medium Industries Minister Nitin Gadkari was also present at the launch of Champion Portal.
Let us know that in the meeting of the Union Cabinet held on Monday, many important decisions have been taken for the Micro, Small and Medium Enterprises (MSME). Information and Broadcasting Minister Prakash Javadekar said on Monday at the press conference that the Indian government has extended the definition of MSME. Now the limit for micro industries will be Rs 1 crore investment and turnover of Rs 5 crore.
Launched the portal https://t.co/NUU2vEvi9n. This is a one-stop place for Micro, Small & Medium Enterprise (MSME) sector. The focus areas are support and hand-holding, grievance redressal, harnessing entrepreneurial talent and discovering new business opportunities: PM Narendra Modi pic.twitter.com/esgYcugGaA
– ANI (@ANI) June 1, 2020
At the same time, industries with investment of Rs 10 crore and turnover of Rs 50 crore will come under small industries, while industries with investment of Rs 20 crore and turnover of Rs 250 crore will come under the category of medium industries. In addition, the business criteria for MSMEs will not include export revenue, which will provide the sector flexibility to expand its operations and drive overseas sales.
Finance Minister Nirmala Sitharaman had on May 13 announced raising the investment limit for MSMEs. Apart from this, he also said that an additional business criterion has also been introduced for MSMEs. During that announcement, Sitharaman defined medium enterprises with a turnover of Rs 20 crore and Rs 100 crore with investment and machinery. This has been further expanded after the latest cabinet decision.