Srinagar, Nov 02 (KNS): Chairman, PHD Chamber of Commerce and Industry Kashmir (PHDCCI), Mushtaq Ahmed Chaya on Friday complimented the Government for announcing host of measures for revival of MSMEs terming these as such milestones as will transform the entire micro, small and medium enterprises and push them substantially upward to enhancing their contribution far more to national GDP and employment generation. The Prime Minister’s meticulous and elaborate announcement of the “12-Mantra” package will be the best Diwali gift for the MSME Sector, the entrepreneurs and the huge bank of labour employed by them.
In a statement to KNS, Chaya applauded that Rs.6,000 crore pacakge announced for MSMEs through various technological upgradation channels will ultimately encourage and inspire the micro, small and medium enterprises to make products and invent processes  that will ensure their global participation and upscale their demand trajectory domestically.Click Here To Follow Our WhatsApp Channel
“Measures such as sanction of loan up to Rs.1 crore in 59 minutes for GST registered MSMEs with 2% interest subvention with turnover of Rs.20 lakh to Rs.5 crore, as also 5% interest subvention for pre and post shipment credit for this sector are extremely timely, pointed outby Co-Chairman Baldev Singh Raina,
According to Chairman state Expert Committee on MSME of PHDCCI Kashmir Bilal Ahmed Kawoosa, the launch of TReDS and compulsory on-boarding of CPSEs on GeM portal; simplification of filing of returns under prevailing labour laws; special relaxation in environment clearances for MSMEs; special provisions for the pharma sector are still other moves that the Chamber welcomes particularly since it is the only industry association that represents the MSME. (KNS)