Think big, become big: Piyush Goyal’s inspirational appeal to MSMEs, said- government will give full support

New Delhi. Union Commerce and Industry Minister Piyush Goyal has given full assurance of government support to Micro, Small and Medium Enterprises (MSMEs) and appealed to them to think big and aspire to big. While addressing a program of MSME organization ‘CIMSME’ on Monday night, Goyal said that the future development of the country will be decided on the basis of the strength of MSMEs. He said that the government is opening the doors of big markets of developed countries of the world for the enterprises of this sector.

Mantra to become big from small

He appealed to the organization to help its members in such a way that micro enterprises can become small enterprises, small enterprises can become medium and medium enterprises can become big. He said, “Think big, aspire big.” Citing the example of the Free Trade Agreement (FTA) concluded with New Zealand on Monday, he said that the MSME sector will benefit the most from this.

Comparison of before and now: relief to small entrepreneurs

Comparing the previous governments and the current governments, he said that earlier banks used to give cheap loans to big entrepreneurs and there was difficulty in recovery of big loans. Public sector banks were incurring a combined loss of Rs 80 thousand crores every year. NPAs, restructured loans and bad assets together were more than 10 per cent. At the same time, this was compensated by charging higher interest on MSME and other small loan takers. They had to pay 18-20 percent interest. Goyal said that the Mudra scheme was introduced within a year of the formation of the Modi government. During the Corona epidemic, cheap loans were given to MSMEs on government guarantee. Swanidhi scheme with small loans was introduced for street vendors.

Honor to MSME

He said that the world is looking towards India at this time. At present the country’s economy is worth four trillion dollars and by the year 2047 we will grow eight times to reach 30-35 trillion dollars. The Union Minister honored the MSME Banking Excellence Awards 2025 for promoting MSMEs to banks, financial institutions and associated organizations in various categories. CIMSME President Mukesh Mohan Gupta also addressed the program. Additional Secretary of MSME Ministry, Dr. Rajnesh was also present on this occasion.