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Friday 18 August 2017
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Retail shopping malls have to buy 30 pc products from MSMEs: Virbhadra Singh

Apart from announcing the setting up of two tool rooms worth Rs 60 crore in Baddi, Union Minister for Medium, Small and Micro Enterprises Virbhadra Singh said the ministry had ensured that all single-brand retail shopping malls proposed to be opened under the Foreign Direct Investment (FDI) will have to buy 30 per cent products from medium, small and micro enterprises (MSMEs) in the country.

Virbhadra Singh, who participated in the Shivrarti fair and inaugurated an exhibition of the Ministry of Medium, Small and Micro Enterprises at the Paddal Maidan, said the MSMEs were the backbone of the country’s economy and Prime Minster Manmohan Singh had entrusted him the responsibility to gear up the same.

He said the two tool rooms in Baddi would be set up to provide skilled manpower to the state. Virbhadra said the MSMEs had trained over 50 million supervisors under its skill development programme in the country and there was no need to develop industrial estates in this sector.

He said the government in its bid to support MSMEs had also ensured that PSUs and other government departments have to make 20 per cent of purchases from MSMEs. He added that the MSME exhibitions showcased products from 10 states in 79 stalls in which 32 are from Himachal.



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