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Responding to the report submitted by the task force, Prime Minister Manmohan Singh has emphasised on the need for creating a strong, flourishing and vibrant MSME sector in order to ensure an inclusive development of the Indian economy.

“Given that the MSME sector is crucial for driving the economic and industrial growth of the country, it was obvious that the PM would stress on the need for the proper implementation of the recommendations mentioned in the task force report for the promotion of the sector,” said Arghya Banerjee, senior analyst at SKP Securities, a small-sized trading house in Kolkata.

The report of the task force was presented by its chairman and principal secretary to the PM, TKA Nair before other members, including Dinsha Patel, minister of state (independent charge), Dinesh Rai, secretary (MSME) and Arun Maira, member of the Planning Commission.

“The PM has taken into consideration the recommendations as put forth by the task force in its report and has called for the implementation of recommendations in a time-bound and effective manner,” said a senior official, who had earlier attended the meeting held by the task force while presenting the report.

Besides appreciating the recommendations as made by the task force, the PM also urged Mr Patel to bring about major improvements and initiate policy reforms for the betterment of the MSME sector.

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