Union home minister Rajnath Singh directed his officials for “quick and time-bound” implementation of the Micro, Small and Medium Enterprises Development Act of 2006 in Chandigarh for revival of sick units in the city, in New Delhi on Tuesday.
The statement has got a thumbs up from the industry sector in the city. This had been a long-pending demand of those from the industry who time and again have been demanding implementation of the Act.
A major benefit that the industry will get on implementation of the Act is the flexibility in trade change. Under the Act, those in industry will be allowed to change their trade as per the new demand, which is not possible as of now. Moreover, those in business will be able to get easy finance from banks.
Speaking to HT, Confederation of Indian Industry (CII) chairman of the Chandigarh council Darpan Kapoor said, “This has been a long-pending demand of those in industry and it is high time that the Act should have been implemented. We welcome the statement by the union minister and at least now the UT administration should get the Act implemented.”
The industry people said the MSMEs were the backbone of the business sector in the country and they were not getting favours like their counterparts.
Sharing, CII Chandigarh council for mer chair man Manmohan Kohli said, “Being a structured city, the rules for industry in Chandigarh are much strict as compared to other cities and implementation of the Act is the need of the hour.”
According to business experts in the city, there are around 500 units which will get affected after the MSME Act is implemented. Meanwhile, Rajnath Singh issued the directive while reviewing the working of union territories division of his ministry. The Act has been implemented by various state governments, but not in the union territory of Chandigarh.