The Confederation of Indian Industry (CII) is recommending simplification of the Foreign Exchange Act for easier participation of foreign direct investment (FDI) in the micro, small and medium enterprises (MSME) sector. One of the recommendations that the CII has made to the Government is to continue providing SSI status to companies even if the FDI limit is above 25 per cent. The industry body has also recommended automatic approval for 100 per cent FDI from non-resident Indians. The idea of the SME exchange is to create an effective market for raising equity funds by the SME sector and create a platform for infusing fresh capital to expand their business. In an effort to upgrade the SME sector, CII is also launching an SME portal as a one-stop shop for information on the sector
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment