A report, jointly prepared by PHD Chamber of Commerce and Industry and Delhi School of Economics, suggests that there is a need to give major impetus to ease of doing business for MSMEs.
The study depicts very interesting findings as there is no uniform trend discernible in terms of perception of respondents towards ease of doing business for MSMEs. Majority (45%) of the respondents agreed to ease of doing business for MSMEs in the country and said that the economic and business reform measures undertaken by the government have been fruitful for them.
Of the rest 55%, around 32% of the respondents opined that there is a dire need for improvement in the ease of doing business climate for MSMEs while 23% were indifferent about improvement in the ease of doing business environment in the country.
However, the effect of recent economic and business reforms undertaken by the government is yet to percolate at the ground level and reflect in the ease of doing business for MSMEs. This is where the role of states becomes exceedingly important.
The state’s role towards promoting ease of doing business is the key towards a competitive manufacturing sector for a strong and sustainable economic growth. The states have implemented the Business Reform Action Plan (BRAP) to improve the regulatory environment for businesses to grow and flourish.