Micro, Small and Medium Enterprises (MSMEs) continue to be citadels adorning the industrial map of India. The recommendations of Dr Prabhat Kumar Committee hold promise for unveiling a new chapter in the Indian business ecosystem for crafting a MSME policy. An enabling and integrated MSME policy for well-functioning and sick MSMEs will provide equal importance to agriculture, manufacturing and service sectors, thereby increasing MSMEs’ share in both private and public spaces. MSMEs may need a separate financial architecture with a dedicated regulatory turf outside RBI, like National Housing Bank (NHB) for the housing sector. 

This blog was published by Devaprakash Ramakrishnan a Development Specialist, on Qrius.