Union Minister Kalraj Mishra, inaugurating the 2nd Innovation Summit-2014 under aegis of PHD Chamber of Commerce and Industry, launched an android application especially prepared for Ministry of Micro, Small and Medium Enterprises (MSME) sector by PHD Chamber of Commerce. This Android App is called the PHD-MSME App.
The App provides solutions to budding entrepreneurs and existing MSME entrepreneurs of different dimensions like marketing, finance, training and capacity building, different government schemes and opportunities.
Mr. Mishra said that micro, small and medium enterprises across the country needed capital at relaxed rates of interest to run their enterprises and that the MSME is lobbying with the public sector banking enterprises to extend loan facilities. He also guaranteed that theMinistry has been working hard to make sure the new government succeeds in setting up of Credit Guarantee Trust Funds to extend liberal packages to MSME as a whole. The government proposes to roll out the new policy in the next 30 days.
As per stipulation of the new policy, the general procedures as well as procurement procedures would be vastly simplified and all clearances for setting up of micro and small businesses would be accorded online within a fixed period of 15 days, assured the Minister.
The app has been developed with the help of students of Delhi University.