Mumbai: Accepting the long standing demand of the traders of the country, the Modi government has included the business class in Micro, Small and Medium Enterprises (MSME). This decision of the government has created a wave of happiness in the business community of the country. Traders’ Federation ‘CAT’ (CAIT) has thanked Prime Minister Narendra Modi and MSME Minister Nitin Gadkari for taking such a big and historic step for the traders of the country, saying that traders across the country will also thank Union Commerce Minister Piyush Goyal. Special thanks will be given to those who played a catalytic role in this decision by becoming the advocates of the traders, it is highly commendable.
Loan will be available at affordable rates.
National President of Confederation of All India Traders (CAT) and National General Secretary B.C. Bhartia and Praveen Khandelwal said that with this decision the traders will come under the MSME category and will be able to get priority sector loans easily from banks and financial institutions at affordable rates. Apart from this, now many other benefits of various government schemes can also be availed by the traders, which are being availed by the MSME category people.
It will help in reviving the retail business.
National President of All India Edible Oil Traders Federation Shankar Thakkar said that CAIT was continuously raising the issue for the past several years and was in talks with the government at various levels. This decision of the government will benefit more than 8 crore small businessmen of the country.
Shankar Thakkar said that today the business community of the country which is providing employment to about 40 crore people and doing annual business of about 115 lakh crores. It’s a big day for Traders affected by the COVID pandemic will now be able to resume their business by obtaining necessary finance from banks. Earlier banks used to refuse to give loans to these traders. This step of the government will prove to be a milestone in the direction of reviving not only the economy but also India’s most vibrant retail business.