India may become largest exporter of PPE kits in 6 months: Union minister Nitin Gadkari

4 months ago 19
google news

HYDERABAD: India is expected to become the

largest exporter

of PPE kits in the next six months,

Nitin Gadkari

,

Union

minister of road transport & highways, micro, small & medium enterprises (MSME) said during a virtual interaction with Hyderabad-based premier B-School Indian School Business (ISB) faculty on Monday.
“Our

MSMEs

are making 5 lakh PPE kits per day and now we are trying to get permission to export it and I am confident that within six months India will be the largest exporter of PPE kits,” he said. As per industry estimates, India is the second-largest PPE kit manufacturer in the world following China.
He also said that a

competitive financial system

has to be created in the country to boost lending activity and cater to MSMEs and small businesses.
The Union minister also said that ISB faculty and researchers can suggest reforms in the area of land, liquidity, labour, logistics, litigation and skilled workers to boost growth in the economy. He also mooted the creation of a system where the schemes are assessed based on performance. He also pointed out that ISB can study the ways and means to increase exports of the country.
Meanwhile, ISB faculty

Prasanna

Tantri said that in a bid to help MSMEs tide over challenging times, the

government

’s effort so far has been towards debt financing but to help MSMEs in the longer term, it will have to help them raise equity capital.
“They are stuck in a vicious cycle where they do not have good governance practices and

good accounting systems

and investors cannot evaluate them and therefore there is no money flowing in and the government’s effort so far has been good but all focussed on debt… which can help them at this time but ultimately we need to help them raise equity capital,” he said.

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