FISME welcomes Cabinet nod to 20% public procurement from MSMEs

FISME, India’s largest MSME organisation, warmly welcomed the decision of the Union Cabinet on November 1, 2011, to clear the Public Procurement Policy that would require all central ministries and public sector units to purchase at least 20 per cent of their total annual purchases from the MSME sector. “This is a very welcome move as it would help provide support to the MSME sector which is very vulnerable to market fluctuations,” said Mr V.K. Agarwal, President, FISME.

“We thank the Government of India in general and the Ministry  of Micro, Small and Medium Enterprises in particular for positively responding to our long standing demand that at least 20% of public procurement should be from the MSME sector,” Mr Agarwal said.
Read the full press release here. Read media reports on the statement here.