Commerce Minister Piyush Goyal announced government support for MSMEs, including concessional land rates in industrial townships and exploration of alternative financing models. He urged collaboration between the government, banks, and MSMEs to overcome financing challenges and highlighted initiatives to simplify business processes and combat corruption.
The Indian government is taking steps to revitalize the India International Arbitration Centre (IIAC) by incentivizing arbitration at the New Delhi institution. This move is aimed at increasing the IIAC’s caseload and establishing India as a global arbitration hub. Key initiatives include offering discounts for MSMEs and focusing on international maritime arbitration.
The Indian government is considering launching a mobile app for its Government e-Marketplace (GeM) portal, aiming to make public procurement more accessible for small businesses. This move is expected to boost the platform’s reach and growth, aligning with the government’s focus on digitalization and supporting MSMEs.
