MSME ministry plans to triple raw material assistance for small businesses by FY30
The government plans to raise NSIC’s raw material procurement assistance to 900,000 tonnes a year from 300,000 tonnes as supply disruptions and price volatility squeeze small businesses.
The Union ministry of micro, small, and medium enterprises (MSME) is set to triple the volume of raw materials it assists small businesses in procuring, according to government officials. The ministry aims to increase the assistance to around 900,000 tonnes a year by fiscal year 2030 (FY30), up from the current 300,000 tonnes. This initiative comes as businesses struggle with supply disruptions and procurement constraints.
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