MoS in the Ministry of Commerce and industry, Som Parkash informed Lok Sabha today that the Government of India has continuously been promoting the progress of industries throughout the country through various policy measures and schemes.

The government has taken a number of recent initiatives under the Aatmanirbhar Bharat Abhiyan to mitigate the impact of Covid-19 on industries.

Some of the initiatives are ~ Rs 20,000 crore Subordinate Debt for stressed MSMEs, Rs3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for Businesses, Rs 50,000 crore equity infusion through MSME Self-Reliant India Fund, New Revised criteria of classification of MSMEs, New Registration of MSMEs through ‘Udyam Registration’ for Ease of Doing Business and no global tenders for procurement up to Rs 200 crore for promotion of domestic manufacturing.

Besides above, Central Government has also taken following measures to promote industrial development~ announcement of Production Linked Incentive (PLI) Scheme , launch of the PM GatiShaki – a National Master Plan for multi-modal connectivity to reduce logistic cost and create world class infrastructure, implementation of various industrial corridor projects to develop greenfield industrial nodes and to facilitate provision of plug and play infrastructure, reducing compliance burden on citizen and business to simplify, decriminalize & remove redundant laws, setting up of Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs) to monitor investment projects, building a strong eco-system for nurturing innovation and Startups in the country with the help of schemes such as Fund of Funds for Startups Scheme (FFS), and Startup India Seed Fund Scheme (SISFS) schemes, launching of GIS-enabled India Industrial Land Bank, Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Scheme for Promoting Innovation, Rural Industry and Entrepreneurship (ASPIRE), Credit Guarantee Scheme (CGTMSE), Micro & Small Enterprises – Cluster Development Programme (MSE-CDP), National Scheduled Caste and Scheduled Tribe Hub (NSSH).

State Governments also promote industrial development through various initiatives and schemes.