He referred to a new Act, which classified enterprises having investment up to US $ 55,000 as micro, US $ 60,000 to US $ 1.2 million as small, and US $ 1.2 million to US $ 2.5 million as medium enterprises.
Changes in policy and support had been effected as per the emerging needs of globalization to enable Indian SMEs to gain a competitive edge, and these related to: WTO compatibility, availability of finance; technology upgradation; and skill development, he said.
The support programmes and schemes for MSMEs listed out in the comprehensive presentation include: (1) assistance for entrepreneur development; (2) credit guarantee fund schemes; (3) micro finance programmes; (4) credit linked subsidy schemes for technology upgradation; (5) Tool Rooms for dies, moulds, jigs and fixtures; (6) testing stations for calibration; (7) cluster development programmes; (8) quality upgradation in small scale sector especially in the context of ISO 9000 and 14001 certification; (9) trade related entrepreneurship assistance for women; and (10) setting up of testing centre by industry associations.
Press Information Bureau Government of India
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