FISME Advocates Crucial Reforms for MSMEs in Recent Parliamentary Roundtable

In a recent roundtable event in the capital, the Federation of Indian Small and Medium Enterprises (FISME) underscored the pressing need to address banking and finance issues, tax challenges faced by small online sellers, and the reduction of litigation costs for the Micro, Small, and Medium Enterprises (MSME) sector.

During the presentation to the bipartisan ‘Friends of MSME group in Parliament, Anil Bhardwaj, Secretary General of FISME, emphasized the hurdles small entrepreneurs encounter while complying with Goods and Services Tax (GST) provisions.

Rajendra Agrawal, a Member of Parliament from Meerut, expressed the clear objective of resolving MSME challenges. He pledged to convey the issues discussed, including those faced by MSME sellers, to the relevant ministries and officials for resolution. Agrawal emphasized the crucial role MSMEs play in realizing the vision of Atmanirbhar Bharat (Self-Reliant India) and urged them to actively present their concerns in Parliament.

FISME’s presentation also highlighted a recent study on Meerut, offering strategies to quadruple the district’s GDP in 4 to 5 years. The study proposed additional growth through investments, skilled job opportunities, increased participation of women, and reforms in local administration.

Addressing the cost of litigation, FISME proposed expediting arbitrator appointments and discouraging frivolous challenges in higher courts, aiming to ease the burden on the MSME sector.

The comprehensive presentation aimed to bridge the gap between MSME challenges and government actions, aligning with the Prime Minister’s vision of a self-reliant and robust Indian economy.