Unleashing Potential: Transforming Medium Enterprises into Growth Engines

Niti Aayog has outlined strategic measures to transform medium enterprises into major growth drivers for India's economy. In its report, 'Designing a Policy for Medium Enterprises,' the Aayog underscores the untapped potential of these entities and recommends significant interventions to unlock their capabilities.

The report suggests introducing a working capital financing scheme linked to enterprise turnover and a Rs 5 crore credit card facility, aimed at enhancing financial access for medium enterprises. Additionally, it calls for the establishment of sector-specific technology centres, known as India SME 4.0 Competence Centers, to foster technological adoption.

The Aayog also advocates for creating a dedicated R&D cell within the Ministry of MSME and using the Self-Reliant India Fund to support cluster-based projects. A sub-portal within the Udyam platform is recommended for smarter navigation of resources. The report emphasizes inclusive policy design and collaborative governance to unlock the sector's full potential, crucial for innovation and export growth.

(With inputs from agencies.)