An awareness required in SMEs regarding Govt Initiatives

BANGALORE, INDIA:

There are several schemes, incentive programs that are operational in order to motivate entrepreneurs from the Small and Medium Enterprises (SMEs) segment. But, the entrepreneurs must have to utilize state and central government schemes, said SM Jamkhandi, director of MSME Development Institute (MSME-DI), Bangalore.

Speaking at a 'Export and National Manufacturing Competitiveness programme schemes' he said, although the government was offering a slew of schemes and sops for SMEs, a majority didn't utilize them due to lack of awareness and education about the schemes. Despite these glitches, the SME sector's growth is so obvious.

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The government has set the ball rolling by instructing all banks to focus more on SMEs, he added.??He also mentioned that 45% of engineering exports are from SMEs and it is the largest employment creator in the country. He called upon SMEs to come out with much more creative to compete in the global market. The government provides financial assistance to almost all development aspects. Even if they want to exhibit their products in foreign countries the government will provide financial assistance, said Jamkhandi.

"Those days we needed to go to foreign countries to market our products, but now, foreigners themselves come here and request us to market our products in their countries.

There is a lot of improvement in SME sectors and it contributes substantially to the country's gross domestic product (GDP) and todaySmall and Medium Enterprises are the finest jewel on the Indian crown," said Jamkhandi.??Prakash N Raikar, president, Karnataka Small Scale Industries Association (Kassia), who also spoke on the occasion, called upon the government to hold a discussion on improving SMEs during the 2012 -Global Investors Meet.

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