Challenges faced by SMEs

Ministry of Micro, Small and Medium Enterprises (MSME) has informed that SMEs still face challenges in developing new products and processes due to inadequate institutional mechanism, limited access to capital and low awareness and compliance with international standards.

To address these challenges, MSME is implementing a number of schemes and programmes like Tool Rooms & Technical Institutions, Technology Centres Systems Programme (TCSP), Cluster Development Programme, Credit Guarantee Scheme, Credit Linked Capital Subsidy Scheme (CLCSS), National Manufacturing Competitiveness Programme (NMCP), Prime Minister’s Employment Generation Programme (PMEGP) and Financial Support to MSMEs in ZED (Zero Defect Zero Effect) Certification Scheme etc.

This information was given by Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri Babul Supriyo in reply to a written question in the Rajya Sabha today.