Ease of doing business for MSMEs: Boosting public procurement from small businesses, increasing the share of women entrepreneurs in India’s MSME sector and making affordable credit accessible for enterprises are among the key priority areas for the government to enhance MSMEs’ contribution to the country’s $5 trillion vision. While public procurement seems to have taken off with CPSEs purchasing from MSMEs beyond the minimum threshold, the low share of women-led MSME units in the total MSME base in the country and credit-related challenges are the two challenges among others that are yet to see more meaningful solutions.
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To address these multiple challenges, MSME Ministry’s additional development commissioner Ishita Ganguli Tripathy told FE Aspire why formalisation of the MSME sector is critical. Tripathy also explained how the government is looking at enhancing women’s participation in the MSME sector and more.