Union Budget 2024-25: Here are the key challenges in the MSME sector | Economy & Policy News

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1 min read Last Updated : Jul 09 2024 | 11:00 P.M IS

Key challenges

Lack of market intelligence

Limited visibility and reach due to lack of branding

Complex trade compliance requirements

High cost of technology adoption

Unavailability of collateral to raise funding

Industry ask

Include of labour-intensive sectors in PLI

National-level export promotion institution for a single point of contact

Reconsider 45 days payment rule to 60 days

Enhance NPA period from 90 days to 180

Revise turnover criteria for trade receivables discounting system from Rs 500 cr to Rs 250 cr

To realise the growth target of $35 trillion by 2047, it is key to address the bottlenecks that will require concerted efforts by both public and private-sector stakeholders. This should expand the domestic and export market for MSMEs”

Mohammad Athar, Partner & Leader, Industrial Infrastructure, PwC India

First Published: Jul 09 2024 | 11:00 P.M IS

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