The Micro, Small and Medium Enterprises (MSME) ministry has proposed to give incentives to emerging entrepreneurs in the field of robotics, biotech and defence sectors in the 12th 5 Year plan. The six new areas identified by the ministry are biotechnology, defence & homeland security, nano technology; IT related activities, food processing, and Pharma. The Ministry has also proposed a special fund package in the five year plan starting from 2012 to 2017 to facilitate the start up of MSME’s in following sectors.
These sectors are significantly important and will be given importance in the coming five year plan. However the details of the package have not been announced. The whole package will be announced as soon as the planning commission agrees. The motive is to make the MSMEs more competitive, attractive & encourage new entrepreneurs towards these sectors.
The ministry has also proposed to restructure its financial plan in 5 broad categories – Infrastructure, marketing, technology, skill-development, and credit. This will help to rationalise things & make it simple. In the beginning of all start ups are MSMEs they are not big in nature. If they could facilitate it through a proper Plan period many people could turn up to be entrepreneur. MSME contributes over 45 percent of India’s industrial production (IIP’s) and about 40 percent to Total Exports. It also contributes 8 Percent to India’s Gross Domestic Product (GDP)
Bell the bull says: MSME’s employs around sixty million people with 26 million enterprises across the country.Google+