Business Category: MSME News

The Ministry of Micro, Small and Medium Enterprise (MSME) will set up a task force to help micro and small enterprises (MSEs) take advantage of the new procurement policy being framed by the government.

According to the procurement policy, which is awaiting the Cabinet approval, 20 per cent of the annual purchases by various ministries and public sector enterprises will be sourced from MSEs.

In a media report, a senior ministry official mentioned, “The ministry is thinking of setting up a task force on procurement to understand the actual capacity of micros and small businesses, identify products required by various government departments and ways to help them take advantage of the new policy being framed.”

The task force will suggest steps to help the MSEs to improve their operational performance and step up production of goods with a view to meeting the demand of the state-run firms.

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