9 years of PM Modi: Traders’ body CAIT hails ‘glorious governance’ of BJP government
Ease of doing business for MSMEs: The confederation, which has been urging the government for the past few years to implement dedicated policies and measures to curb alleged malpractices in the e-commerce space, said, “8 crore traders (represented by the confederation) of India feel digitally empowered and financially independent through the pathbreaking innovation of UPI."
Ease of doing business for MSMEs: Traders’ body Confederation of All India Traders (CAIT) on Tuesday hailed nine years of the Narendra Modi government as ‘glorious governance’. The confederation, which has been urging the government for the past few years to implement dedicated policies and measures to curb alleged malpractices in the e-commerce space, said, “8 crore traders (represented by the confederation) of India feel digitally empowered and financially independent through the pathbreaking innovation of UPI.”
In a letter to Prime Minister Modi, Praveen Khandelwal, Secretary General, CAIT said Digital India, Start Up India, Make in India, Skill up India, PLI schemes have changed the landscape of Indian economy. “Despite the Coronavirus Pandemic, India has been marching powerfully among global economies that are struggling to cope with the slowdown. Indian manufacturing and exports have never seen such robust growth.”
Also read: 9 years of Modi government: 5 schemes for MSMEs launched after 2014 and their impact
PM Modi also took to Twitter to commemorate the 9 years of BJP-led government. “Today, as we complete 9 years in service to the nation, I am filled with humility and gratitude. Every decision made, every action taken, has been guided by the desire to improve the lives of people. We will keep working even harder to build a developed India,” he said.
In the past nine years, the government launched a number of initiatives for MSMEs including traders registered under the MSME definition such as the Emergency Credit Line Guarantee Scheme (ECLGS) to enable Rs 5 lakh crore collateral-free emergency loan post Covid, Zero Defect Zero Effect (ZED) scheme to improve the competitiveness and productivity of MSMEs by helping them reduce wastage in their manufacturing process, Rs 6,000-crore Raising and Accelerating MSME Performance (RAMP) scheme for MSMEs, Udyam portal to enhance formalisation of MSMEs in the informal space, etc.
Also read: CAIT says govt’s inability to roll out e-commerce policy, rules a matter of great regret
Importantly, former MSME Minister Nitin Gadkari in July 2021 had announced the re-inclusion of retail and wholesale trades under the MSME definition to benefit 2.5 crore retail and wholesale traders under priority sector lending (PSL) by banks. The traders were earlier categorised under the MSME definition until 2017 when they were moved out of the MSME ambit.