In order to provide social security to workers engaged in the unorganized sector, the Ministry of Small Scale Industries and Agro-Rural Industries has declared to invest Rs7,600 crores and within next five years. This amount will be increased upto Rs25,000 crores.
With the enforcement of Micro Small and Medium Enterprises Development Act (MSME) in 2006, large firms have to pay the dues to small and medium enterprises. This will help the small firms to keep their production going. Otherwise they can take legal action against big organizations.
The ministry has also signed the Annual Action Plan for 2006-07 with Mexico in late 2006. According to the agreement, both the countries will promote trade and cooperation between MSMEs.
The sectors to be promoted are Information Technology, gems and jewellery, handicrafts, garments, chemicals leather treatment chemicals among others.
Both India and Mexico will examine the prospects to establish a Business Development Centre in each country for promoting exports.
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