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Government to assist SME sector to meet Global Financial Crisis
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Written by Anand   
Thursday, 20 November 2008

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New Delhi: Dr. Ashwani Kumar, Minister of State for Industry had an extensive discussion with the Apex Industry Associations, representatives of various bodies of Chambers of Commerce, and over 21 sector specific associations regarding the global financial crisis and its implications on the Indian industry, here today.

The Minister assured the representatives of small and medium industries and the Apex Chambers of Commerce that the Government is fully committed to proactively assist the SMEs sector and the Indian industry in general through suitable initiatives to mitigate and minimize the negative impact of the global situation on the Indian economy.

The Minister stated that the foremost priority of the UPA Government is to create confidence about the Indian economy and to ensure sustained employment generation in the country.

The Minister further assured Industry representatives that the Government is open to any suggestions that would enable Indian industry to meet the challenges of the present crisis. He informed the members present in the meeting that India will strengthen its anti-dumping mechanism to ensure that Indian industry was not unfairly prejudiced through dumping of foreign products.

He directed the officials to come up with response to the various suggestions received within 15 days so as to finalise future steps that may be required at Government level.

He said that Indian Government is committed to spend about $500 billion in establishing a world-class physical infrastructure in the country in near future.

 
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