Govt willing to earmark areas to MSMEs in 20 townships: Piyush Goyal

Union Minister for Commerce and Industry, Piyush Goyal, said the government is open to the idea of an alternate financing model to support micro, small, and medium enterprises (MSME) and the government is willing to earmark areas to MSMEs in the 20 townships being built across the nation.

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The minister urged the industry to share specific issues they are facing in accessing bank credit, Goyal said, "If we get that more specific feedback then we will be able to take it up with the bankers."

"ECGC (Export Credit Guarantee Corporation) is looking at factor services also but my own personal view is that being costlier, people will still prefer to go to the bank and take a loan but we are open to the idea of alternate financing models," he added.