Government Plans Major Scheme for Small Enterprises

The government is preparing to announce a new phase of reforms for Micro, Small, and Medium Enterprises (MSMEs). The Prime Minister’s Office (PMO) is working closely with the MSME Ministry and the Finance Ministry to reduce tax and compliance burdens and improve cost competitiveness. These measures are expected to be announced by the end of the year.

According to official documents, the plan will follow a three-tier format. In the first phase, cluster-level workshops will be organized, followed by regional conferences in seven cities in November, and finally, a national conference will be held at the end of the year.

A high-level committee headed by NITI Aayog member and former Cabinet Secretary Rajiv Gauba has proposed several reforms aimed at simplifying processes and regulations in the MSME sector.

The consultations are centered around two key objectives — reducing costs and enhancing productivity. MSMEs have been asked to share actionable suggestions related to financial and capital costs, raw material expenses, logistics and supply chains, marketing, regulatory requirements, and quality standards.

The ministry has also sought recommendations on leveraging technology, artificial intelligence (AI), and innovation to strengthen manufacturing across the country.

Additionally, inputs are being invited on areas such as industry-level training, technical infrastructure, venture capital funding, fund-of-funds mechanisms, and fostering strong industry-academia collaborations to promote research and innovation.

Suggestions have also been sought to improve the intellectual property (IP) framework, including simplifying procedures for patents, trademarks, and geographical indications (GIs).

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