Home / Knowledge / News / Textiles / Demonetisation will help the MSME sector: Kalraj Mishra
Demonetisation will help the MSME sector: Kalraj Mishra
Nov '16
Demonetisation is causing initial problems, but it is not likely to have any major impact on the job scenario of the micro, small and medium enterprises (MSME) of India, said Union MSME minister Kalraj Mishra. He said that after currency flow is regularised in the country, the move will help the sector and result in a favourable outcome.

“We are trying to instil confidence in them and talks are on. Our officers are on the job and we will find out a solution. There will be no impact in the sector and outcome (of demonetisation) will be good,” Mishra told a news agency.

Mishra assured the people working in the MSME sector that the cash crunch due to the demonetisation of Rs 500 and Rs 1,000 currency notes will not result in layoffs. He also said that MSME companies will take up the issue with Arun Jaitley, Union finance minister, during the pre-budget meeting to urge the Centre to assess the situation and ensure sufficient supply of cash.

Transactions in the MSME sector are mostly carried out in cash, and it is one of the most affected as it is experiencing a slowdown in exports due to Brexit as well as costlier loans from banks. As companies are left with limited money, workers in the sector could lose their jobs, said Anil Bhardwaj, general secretary, Federation of Indian Micro and Small and Medium Enterprises (FISME).

The withdrawal limit of Rs 50,000 for small businesses is not sufficient for the sector, considering that most payments are carried out in cash. A repayment window of 60 days has been provided by the Central bank for dues payable from November 1 to December 31. (KD)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy:  Stanislav Kondratiev on Unsplash

Apparel/Garments | On 19th Sep 2018

AAFA questions US tariffs on $200 bn Chinese goods

The American Apparel & Footwear Association (AAFA) has questioned...

USFIA joins national campaign to fight consumer tariffs

Textiles | On 19th Sep 2018

USFIA joins national campaign to fight consumer tariffs

The United States Fashion Industry Association has joined Americans...

Rs 25.7 bn for Pak textile sector under PM package phase I

Textiles | On 19th Sep 2018

Rs 25.7 bn for Pak textile sector under PM package phase I

The Pakistani Government allocated Rs 25.7 billion to the textile...

Interviews View All

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Headhonchos, Indian fashion industry

Indian fashion industry

Organic the first choice of any environment-conscious person

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Amiben Shroff, Shrujan

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search