The ₹3 lakh crore credit guarantee facility extended to micro, small and medium enterprises (MSMEs) under the Aatmanirbhar Bharat Abhiyan (Self-Reliant India Initiative) also covers traders, minister of commerce and industry Piyush Goyal has clarified.
Traders can access easy loans under the recently announced stimulus package,an official statement on Friday quoted him as saying.
“The changes made in the definition of the MSME sector will also help them,” he said.
HT had reported on Tuesday that export units, trading firms and hospitality ventures could also tap the Rs 3 lakh crore credit facility offered to MSMEs under the recent economic stimulus package even if they are not registered as MSMEs, but meet the eligibility criteria.
On hardships being faced by retail traders even after the relaxations of the lockdown restrictions, the minister said that a majority of shops had been allowed to open, without any distinction between essential and non-essential goods and services.
“The decision to open the remaining shops in the malls will be taken soon, after taking into account the guidelines of the health ministry,” the statement quoted him as saying at a meeting with the representatives of traders associations via video conferencing on Thursday night.
The minister said several indicators show that an economic recovery lies ahead. “The power consumption this month is almost at par with the corresponding period last year,” he said. Exports, which declined in April by almost 60%, have started showing an uptick, and preliminary figures indicate the decline this month will be smaller, he said.
{{/usCountry}}The minister said several indicators show that an economic recovery lies ahead. “The power consumption this month is almost at par with the corresponding period last year,” he said. Exports, which declined in April by almost 60%, have started showing an uptick, and preliminary figures indicate the decline this month will be smaller, he said.
{{/usCountry}}Services exports rose even the last month. The decline in imports outpaced the fall in merchandise exports, lowering the trade deficit.
Goyal said that during the lockdown period, the nation had geared itself up to fight the Covid-19 pandemic and built capacities.
“Domestic manufacturing of the protection equipment (like masks, sanitizers, gloves) got a boost, health infrastructure was scaled up, and awareness was generated among the people,” the statement quoted the minister as saying.
“Timely and correct decisions taken by the Prime Minister, and adhered to by the people, have helped the country, as we are in a better position compared to many other nations of the world, with more resources and lesser population,” he said.
Goyal told traders not to feel threatened by e-commerce, saying consumers had realised the importance of neighbourhood stores in an hour of crisis.He said the government was working to facilitate a B-2-B (business to business) model for retail traders so that they can expand their reach.Goyal urged traders to use, promote and support Indian goods.