Budget 2021: MSME sector employs around 120 million individuals
Budget 2021: The two percent interest subvention scheme for micro, small and medium enterprises (MSMEs) on loans must be extended with enhanced coverage of three-four per cent to the extent of Rs 300 lakh, suggests Mr Vikash Agarwal, President, Indian Chamber of Commerce (ICC). The two percent interest subvention scheme for micro, small and medium enterprises on loans was extended till March 31 with few business friendly provisions. The coverage of the scheme is limited to all term loans and working capital to the extent of Rs 100 lakh, which industry body Indian Chamber of Commerce expects to be extended to Rs 300 lakh in the upcoming Budget 2021. (
With COVID-19 making the year 2020 a year of learning and turbulence, the textile and apparel sector is confident of achieving the much needed growth in 2021. The sector can make 2021 a year of progress by focusing on USA for apparels, as the textile industry had benefited from the volumes in the market in the first 10 months of 2020, Indian Texpreneurs Federation (ITF) convenor Prabhu Dhamodharan said on Saturday. Now, its time to step up the efforts to repeat the same success in the US market for our apparel products, he said. Vietnams Free Trade Agreement (FTA) with the European Union would intensify competition for India, and at the same time a level-playing field with top competing nations for the US market in terms of duty combined with quick economic recovery make a compelling case for Indian apparel sector for immediate growth, he said.