Dealers alert! This good MSME news may come soon from Modi government

Union Minister Nitin Gadkari has said that Modi government is considering according MSME status to dealers as it will enable them to avail benefits offered to micro, small and medium enterprises. Micro, small and medium enterprises (MSMEs) comprising manufacturing and services units need to get registered to avail the benefits and subsidies offered under various government schemes.

Registered MSMEs are eligible for tariff subsidies and tax and capital subsidies. The registration also helps them in getting government tenders and enables easier access to loans at low interest rates.

"Regarding MSME, we are thinking now of giving MSME status to dealers also and they will get benefit of it, that is also under consideration by which they will get the benefits," Gadkari said. The minister also reiterated his appeal to major industries to clear the outstanding dues to MSMEs in a timely manner.  The Minister for MSME and Road Transport and Highways was addressing a virtual exhibition on 'Construction Equipment, Technology Components and Aggregates'.

"We are also requesting to the Finance Ministry, the industries who want to make their technology centers, training centers, research centers, from Income Tax point of view whether we are in a position to give some more support to them by which we can inspire and motivate them for more research and innovation," Gadkari added.