MSME Sector Urges Government for Strong Push towards Innovation and Technological Adoption in Budget 2025

New Delhi, India - The Micro, Small, and Medium Enterprises (MSME) sector, which is the backbone of India's economy, has asked the government to provide a strong push towards innovation and technological adoption to overcome its current challenges. According to MSME leaders, simplifying interstate and export logistics compliance is essential to enabling seamless commerce.

To support the growth of startups and export-focused MSMEs, the government was urged to expand the scope of its credit guarantee schemes. This will enhance access to funding for these essential businesses and foster growth across the sector.

Additionally, the industry emphasized the need to accelerate the adoption of electric vehicle (EV) charging infrastructure by extending tax benefits to establishments that provide public EV charging stations in hotels, malls, parking facilities, and other locations.

In view of the above challenges, the MSME sector stressed the importance of prioritizing their formalization through Budget 2025. Simplifying tax and compliance processes was suggested, as this will encourage more businesses to integrate into the formal economy. Streamlining complex filing requirements is essential to reduce operational costs and enable MSMEs to scale effectively.

Experts believe that addressing these challenges will be crucial in driving India's economic growth in the coming years.