India will overcome the threat posed by pandemic COVID-19 and rise as a Superpower: Shri Nitin Gadkari, Hon’ble Union Minister of MSMEs and Road Transport & Highways, Government of India

No.PR-11

April 15, 2020

New Delhi

India will overcome the threat posed by pandemic COVID-19 and rise as a Superpower: Shri Nitin Gadkari, Hon'ble Union Minister of MSMEs and Road Transport & Highways, Government of India

Shri Nitin Gadkari, Hon'ble Union Minister of MSMEs and Road Transport & Highways Government of India, addressed the delegates on the various issues related to MSMEs, Road Transport, Highways, among others arising due to the spread of pandemic COVID -19 in a Webinar organized by PHD Chamber of Commerce and Industry on 15th April 2020. The Interactive Session was attended by more than 250 participants from all over the country.

The Hon'ble Union Minister appreciated PHD Chamber’s diligent efforts for organizing the webinar to discuss the issues and challenges faced by the economy and industry during these extremely difficult times. He took note of all the issues raised by the participants and urged PHD Chamber to send the issues faced by the MSMEs to the Government.

India should take the war against pandemic COVID-19 as a blessing in disguise and consider it as an opportunity to rise further, said Shri Nitin Gadkari.

Our first fight is with the rising spread of pandemic COVID-19 that has affected the entire world significantly. Further, we also need to fight the war to protect the Indian economy. He urged all the delegates of the webinar to wear masks, use hand sanitizers regularly and maintain strict social distancing.

Till 21st March 2020, the Government has restructured around 6 lakh MSMEs and will soon restructure additional 1 lakh MSMEs, said Shri Nitin Gadkari.

The Government has increased the working capital limits of businesses for the next 3 months and is in constant touch with the Hon’ble Finance Minister as well as other concerned Ministers. He assured PHD Chamber that all the issues and concerns raised in the webinar will be sent to the Finance Ministry, PMO, RBI, among others and will be solved at the earliest.

We are constantly working to make compliances easy for the MSMEs related to GST and other financial matters, said Shri Nitin Gadkari.

MSMEs contribute around 29% of India’s GDP, 49% of exports and offer around 11 crore job opportunities as well. The Government has provided around Rs 10,000 crores worth of funds for the MSMEs which will be released soon for the better functioning of the MSMEs. Going forward, MSMEs are encouraged to invest in the capital market which will be beneficial for the overall development of the MSMEs, said Shri Nitin Gadkari.

Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry, while welcoming Shri Nitin Gadkari, Hon'ble Union Minister of MSMEs and Road Transport & Highways, Government of India, said that PHD Chamber stands in complete solidarity with the Government and is happy to extend a full-fledged support to the Government and its countrymen.

Dr D K Aggarwal mentioned about the the concerns of the MSMEs industries and suggested a stimulus package ranging between Rs.12-15 lakh crore for the economy. He also provided suggestions that can ease the working of the MSMEs, Road Transport, Highways.

The Video Conference was also attended by Shri Sanjay Aggarwal, Senior Vice President, PHD Chamber and Shri Pradeep Multani, Vice President, PHD Chamber among other senior PHD members and industry stalwarts.

The Video Conference was moderated by Dr Ranjeet Mehta, Principal Director, PHDCCI. The industry participants shared their issues and challenges while also suggesting relief measures and steps to ensure smooth supply chain and logistics operations in the country.

Ends.

Media Division

PHD Chamber of Commerce and Industry