>>
Home / Knowledge / News / Textiles / Govt to set up NAFUS for growth of MSMEs

Govt to set up NAFUS for growth of MSMEs

23
Jun '09
Two measures have been proposed for the growth of micro, small and medium enterprises (MSMEs) in the country.MSMEs constitute an important sector of the Indian economy, contributing significantly to the manufacturing output, employment and exports, however, the desired growth has not been achieved in this sector till date.

Shri Dinsha Patel, Minister of State (Independent Charge) for the Ministry of Micro, Small and Medium Enterprises expressed this view during his meeting with the Prime Minister during discussion on various issues concerning this Ministry. The issues discussed included several disadvantages in terms of access to finance, technology development, unfavourable markets, etc. and support to grow.

Shri Dinsha Patel expressed concern over finance which has remained the major constraint in the growth of enterprises in the unorganised sector, which are mainly micro enterprises. He proposed two measures , setting up of a National Fund for the Unorganised Sector(NAFUS) to provide credit support exclusively to the micro enterprises. This has been recommended by the National Commission for Enterprises in the Unorganised Sector.

Initially the fund could be set up under Small Industries Development Bank of India (SIDBI) and later on a separate institution need to be set for this purpose , the minister suggested. Second suggestion says while stipulation of a separate sub-target for the MSME sector has not been found feasible, earmarking of specific percentage of net bank credit (say, 6%) for the micro enterprises under the priority sector lending targets needs to be considered to ensure increased access to credit by micro enterprises.

Demand for MSE products has been another area of concern, more so in the present global economic scenario. Shri Dinsha Patel requested to lay down an annual goal for procurement from the MSE sector for the Central Ministries/Departments/PSUs, with the objective of purchases which will be a great support to this sector. In this regard, MSME Ministry will come up with a Procurement Policy for this sector.

The global economic slowdown has impacted the export-oriented sectors of the industry like Gems and Jewellery, Textiles and Leather, leading to considerable job loss. A special package needs to be worked out for them.

Press Information Bureau


Must ReadView All

Pic: Dreamstime.com

Apparel/Garments | On 22nd Jan 2022

Dhaka, Berlin sign €20.15-mn pact to improve RMG workers conditions

Bangladesh and Germany have signed an agreement to support five...

Pic: Shutterstock

Apparel/Garments | On 22nd Jan 2022

UKVFTA brings positive results to bilateral trade: Vietnamese ministry

The recently effective UK-Vietnam FTA has led to positive outcomes,...

Pic: Shutterstock

Apparel/Garments | On 22nd Jan 2022

Cambodia approves new projects worth $1.9 bn, including 2 garment ones

The Council for the Development of Cambodia has approved 10 projects...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Dr. Catherine Tubb,

Dr. Catherine Tubb

Created in 2018 to investigate the risk of market failure related to...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Payal Singhal, Label - Payal Singhal

Payal Singhal
Label - Payal Singhal

Leading South Asian fashion designer, <b>Payal Singhal </b>known for her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Bluestem Global Sourcing Limited
Restoque S.A.
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
SHAHI Exports Pvt Ltd
Cat Tuong Real Estate Group Joint Stock Company
Lacoste (Wanchai)
IKEA of Sweden AB
John Varvatos
Lululemon Athletica Inc
Varner AS Retail
Sportmaster Ltd.
Seasalt Limited
Eastman Chemical Company
Hela Clothing Pvt Ltd
Guess Europe Sagl,
Sateri (Jiujiang) Fiber Co.,Ltd
Tchibo GmbH
MAS Active / MAS Kreeda / MAS Bodyline
Vardhman Textile Ltd
PVH Corporation
Reiter India Private Limited
Desigual - ABASIC, S.A.
Target Corporation (MN)
International Textile Manufacturers Federation
Gokaldas Exports Limited
Groz-Beckert East Asia LLP
C;&A Sourcing International Ltd
Puma
Boardriders Asia Sourcing Limited
Walmart
Lisa S.P.A.
Vianney Textil Hogar S.A. De C.V.
Green Fibre
Aramark Uniform ;& Career Apparel, LLC
KIABI
Under Armour Global Sourcing Ltd
Phong Phu international JSC (PPJ)
Page Industries Limited (Bangalore)
Babyshop
Gatsby Africa
Gloria Jeans
SYNERGIES HONG KONG LIMITED
NITI Aayog
Rosset ;& Cia Limited
Alix Partners
Etam Group Strategy Hong Kong Limited
Recron Polyester from Reliance Industries Limited
BIMBA ;& LOLA SL
LC Waikiki
TESCO INTERNATIONAL SOURCING LIMITED
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Decathlon
Truetzschler India Private Limited
Grasim Industries Limited
The Top Form Brassiere Manufacturing Company Limited
Helly Hansen Far East Ltd
Lifestyle
Sainsbury's Argos Asia Limited
THE BOMBAY DYEING ;& MFG.CO. LTD
Maceton Limited
Rayonese Textile Inc., Division de Culp Inc.
BIANCA
Alison Hayes Romania
IDH – The Sustainable Trade Initiative
Tory Burch Hong Kong Ltd
Lenzing Aktiengesellschaft
Brandix Lanka Limited
Aquarelle Clothing Limited
T.T. Limited
H;&M Hennes ;& Mauritz (Far East) Ltd
Gap International Sourcing Limited
Arvind Limited
KAS Direct Sourcing
J ;& P Coats
Midas Clothing Limited
Abit
Tommy Hilfiger
OVS Hong Kong Sourcing Ltd.
The LYCRA Company Singapore  Pte. Ltd
Permoda(Koaj/Armi/Pronto/Bkul)
Benetton Group
Huntsman (Singapore) Pte Ltd
G-Star Raw C.V.
Esprit Europe Services GmbH
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Chico’ FAS
Chori Company Limited
Landmark Group
Calvin Klein
Sportswear Company Spa

January 2022

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


Advanced Search