New Delhi, Aug 18: The government is considering MSME status to dealers as it will enable them to avail benefits offered to micro, small and medium enterprises, Union Minister Nitin Gadkari said on Tuesday.
New Delhi, Aug 18: The government is considering MSME status to dealers as it will enable them to avail benefits offered to micro, small and medium enterprises, Union Minister Nitin Gadkari said on Tuesday.
Micro, Small and Medium Enterprises (MSMEs) comprising manufacturing and services units need to be registered to avail the benefits and subsidies offered under various government schemes.
Registered MSMEs are eligible for tariff subsidies and tax and capital subsidies. The registration also helps them in getting government tenders and enables easier access to loans at low interest rates.
"Regarding MSME, we are thinking of giving MSME status to dealers, as they will get the benefit from it," Gadkari said. The minister also reiterated his appeal to major industries to clear the outstanding dues to MSMEs in a timely manner.
"We are also requesting the Finance Ministry about the industries who want to make their technology centers, training centers, research centers, from Income Tax point of view and whether we can lend support and motivate them for more research and innovation," Gadkari said.
The Minister for MSME and Road Transport and Highways was addressing a virtual exhibition on 'Construction Equipment, Technology Components and Aggregates'.