The country's MSME industry takes advantage of the opportunities created by Corona: Union Minister

(PTI) New Delhi, Mar 16, 2020, Monday

Union Minister Nitin Gadkari said about the restructuring of small and medium enterprises, saying that six lakh units have been restructured. He said Indian industry should increase exports by overcoming the calamity of corona virus.

Nitin Gadkari counseled India's small-scale industry units in relation to the coronary virus that is rampant in the world and asked them to turn the disaster into a reality. Referring to the fact that industries in China are stagnant and most countries have stopped exporting from China, Nitin Gadkari said that Indian industry needs to take advantage of this and move on.

Responding to a question regarding restructuring of small and medium sized industry units, MSME and Road Transport Minister Nitin Gadkari said that more than six lakh micro, small and medium enterprises have been restructured in the country. According to him, during the period from January 2019 to January 2020, 6 lakh units have been re-operated through a loan of Rs 25,000 crore.

The Union Minister also advised the State Governments that they should allocate and promote funds for small and medium enterprises. Gadkari said the development of this sector is less than expected as the states do not have a tendency to fund small business units. In the current environment, the development of small and medium enterprises of the country is particularly important, he said.