Get All Access for $5/mo

3 Tips by Nitin Gadkari to Boost Infrastructure and MSMEs The Union minister was speaking at an event organized by the PHD Chamber of Commerce and Industry

By Vinayak Sharma

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Entrepreneur India

To boost the micro, small and medium enterprises (MSME) along with the infrastructure verticals to ramp up the country's economy, the Centre has announced various measures. While no MSME loans will be classified as non-performing till March 2020, the government plans to invest INR 100 trillion in the country's infrastructure.

Related: How Saudi Arabia's $100 billion Investment in India go a long way in meeting infrastructure goals

Nitin Gadkari, Union minister for road transport and highways, shipping and micro, small and medium enterprises on Monday, while speaking at an event organized by the PHD Chamber of Commerce and Industry, pointed out ways through which stakeholders in these sectors can benefit, in return uplifting the economy which has grown at a meager pace of 5 per cent during the first three months of the current financial year.

Good Credit Rating for MSMEs

Gadkari encouraged MSMEs and other stakeholders to go digital and use the digital structures provided the government for ease of business. Going digital will help MSMEs to obtain effective credit rating facilitating them to avail loans from banks without facing hurdles. The minister had earlier also urged MSMEs to get listed on stock exchanges and raise money. This would ease the burden on the lending institutions as well.

Related: Here's Why Nitin Gadkari is Pushing MSMEs to Get Listed

MSMEs Should Opt New Technologies

Gadkari urged MSMEs to be equipped with new technologies which would assist them in their businesses. According to the minister, new technologies related to the agro processing businesses would assist the sector in its growth due to higher interest by investors.

Construction of New Highways

Talking about the Delhi-Mumbai highway construction, Gadkari said, "We are building around 350 petrol pumps on the highway where we would allow SMEs to establish their stores like handlooms, restaurants, and other amenities for travellers. This would make journeys convenient and simultaneously help small enterprises to grow."

Terming it as "Green Highways', he emphasized on developing eco-friendly highways along with the aim to increase CNG pumps and electric vehicles infrastructure in the National Capital Region.

Vinayak Sharma

Entrepreneur Staff

Correspondent, Entrepreneur India

News and Trends

Startup Community Grieves the Sudden Demise of Rohan Malhotra, Beloved Leader of Good Capital

From HSBC intern to Good Capital's Managing Partner, Rohan Malhotra's journey spans co-founding Investopad and advising AngelList India, showcasing his expertise in fostering startups and driving innovation.

Business Solutions

Go Paperless with the PDF Reader Pro for $49.99

Your business's digital future starts today.

Business News

Meta Says Its New Movie Gen AI Is an Industry First — But a Demo Shows It Isn't Perfect

Movie Gen is too expensive to be released to the public yet, according to Meta's chief product officer.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Franchise

How California's New Disclosure Law Could Affect Franchise Sales Nationwide

The bipartisan legislation introduces new registration and pre-sale disclosure requirements for third-party franchise sellers, including brokers, broker networks and franchise sales organizations.

Growing a Business

4 Ways I Grew My Business From Startup to 17 Years of Sustained Success

Whatever the future holds, remembering these four lessons will help sustain and scale your startup to a lasting legacy.