The Aryavarth Express
Agency (Bengaluru): Recognizing the critical role played by Micro, Small, and Medium Enterprises (MSMEs), small traders, and Vishwakarma families in driving India’s economic growth and employment generation, the Bharatiya Janata Party (BJP) has outlined a series of initiatives under its “Modi ki Guarantee for MSME, Small Traders and Vishwakarmas” as part of its election manifesto.
The party pledges to leverage the Digital India infrastructure developed over the past decade to create a robust and easy digital credit solution for MSMEs and small traders. This initiative aims to address the credit gap faced by these businesses and provide them with the necessary financial support for growth and expansion.
The manifesto also promises to strengthen the PM Vishwakarma Yojana, a first-of-its-kind program launched to uplift the Vishwakarma families. The scheme provides financial assistance, credit facilities, training, skill development, and market access to these traditional artisans and craftsmen. The BJP aims to further expand the scheme’s coverage and benefits to empower India’s Vishwakarmas.
Recognizing the compliance burden faced by MSMEs and small traders, the party pledges to simplify the regulatory framework and reduce the number of compliances required. The BJP also aims to work with state governments to encourage the simplification of state-level legislations, creating a more conducive environment for businesses to operate.
To enhance market access for small businesses, the manifesto emphasizes the adoption of the Open Network for Digital Commerce (ONDC) platform. The party aims to encourage MSMEs and small traders to leverage ONDC’s potential to expand their customer base and tap into new market opportunities.
Acknowledging the growing threat of cyber attacks, the BJP proposes to create a suite of public cybersecurity products to help MSMEs and small traders protect themselves against cyber threats and frauds. This initiative aims to provide affordable and effective cyber security solutions to these businesses.
The party also plans to launch affordable insurance products tailored to the needs of MSMEs and small traders, providing them with protection against risks like fire, theft, and natural disasters. This move aims to enhance the financial resilience of these businesses and mitigate the impact of unforeseen events.
Other key initiatives include further simplifying the GST portal to enhance user experience for MSMEs and small traders, expanding the network of Dak Ghar Niryat Kendras to provide easy export facilities, promoting Khadi as a global brand for sustainable lifestyle, transforming India into a global toy manufacturing hub, and revitalizing traditional handicrafts through design interventions and market linkages.