Govt invites proposals to revive sick industries
In a move to promote industrial development, the government on Wednesday assured of taking serious measures for the revival of sick industrial units in the country. Anup K Pujari, Secretary, Ministry of Micro Small and Medium Enterprises (MSME), called upon people to come up with proposals seeking financial support to revive stalled units. “Government is willing to extend help and financial support to people who come up with an idea to revive industrial units that have turned sick,” he said. Not only the stranded units, but the companies with good business proposition and weak execution were also called up to come up with revival proposals. The official was speaking at a conference on ‘Profit Re-Engineering’ organised by the Associated Chamber of Commerce and Industry (ASSOCHAM) in New Delhi. He also said that the one-page Udyog Aadhaar Memorandum notified by the government, which is meant for the registration of micro, small and medium enterprises (MSMEs), is getting a large response. The government has taken slew of measures to improve business process in the country. The World Bank in its report on ease of doing business index has ranked India at 130 out of 189 countries, up 12 places from 142nd position last year. Industry leaders have also expressed confidence in the government’s measures towards improving business environment. “Various reforms have been taken for simplification of rules, procedures and compliances and many more are underway. The government is proactively working with the states in streamlining various processes and we are confident that much further improvement will be seen in years ahead, said A Didar Singh, Secretary General, FICCI.
October 29, 2015 | 3:33pm IST.
to success.