Government contemplating industrial health clinics for sick MSMEs

industrial health clinics, sicks MSME, msme sector, Suresh Prabhu, Commerce and Industry Minister, DIPP Commerce and Industry Minister Suresh Prabhu has said that the proposed industrial policy aims to promote emerging sectors. (PTI)

The government is contemplating setting up industrial health clinics to deal with sickness in the micro, small and medium enterprises (MSMEs) which are the backbone of the country’s industrial architecture, sources said. These clinics are likely to be set up as part of the new industrial policy, which is expected to be announced soon. The new policy will replace the industrial policy of 1991 which was prepared in the backdrop of balance of payment crisis. As per the proposal, these industrial health clinics could be set up as an autonomous units to deal with sickness in the MSME sector, sources, who did not wish to be named, said.

Such clinics raise funds through various sources including states, banks and capital markets to finance revival and rehabilitation of sick units. They also help sick units to collaborate with different organisations for information sharing and research.

Commerce and Industry Minister Suresh Prabhu has said that the proposed industrial policy aims to promote emerging sectors and also modernising the existing industries, reducing regulatory hurdles and encourage adoption of frontier technologies such as robotics and artificial intelligence.

The Department of Industrial Policy and Promotion (DIPP) in August last year floated a draft industrial policy with the aim to create jobs for the next two decades, promote foreign technology transfer and attract USD 100 billion FDI annually.

Source: Financial Express