India needs vibrant enterprises in micro, small and medium segments: PM

New Delhi, Jan 30 (ANI): Prime Minister Manmohan Singh said on Saturday that India needs thriving, vibrant and strong enterprises in the micro, small and medium segments for all round economic development.

Dr. Singh was addressing the members of the Micro, Small and Medium Enterprises Task Force.

The Task Force presented its report to Prime Minister Singh On Saturday.

Singh commended the Task Force for the detailed and painstaking analysis done and the pragmatic recommendations put forth in their report.

He said that implementation of the recommendations should be taken up earnestly and in a time bound manner to give a sustained impetus to this sector. He requested the Minister for Micro, Small and Medium Enterprises to take the lead and spearhead policy reform for this sector.

The report, submitted by Task Force Chairmen T.K.A.Nair, provides a roadmap for the development and promotion of the Micro, Small and Medium Enterprises (MSMEs) and recommends an agenda for immediate action to provide relief and incentives to the MSMEs, especially in the aftermath of the recent economic slowdown, accompanied by institutional changes and detailing of programmes, to be achieved in a time bound manner.

In addition, it suggests setting up of appropriate legal and regulatory structures to create a conducive environment for entrepreneurship and growth of micro, small and medium enterprises in the country.

In August 2009, Singh had announced setting up of the Task Force when representatives of prominent MSME associations had met him to highlight their issues and concerns. (ANI)