Government should focus on Technology Transfer and Low Interest Rate: FICO
The Federation of Industrial & Commercial Organization (FICO) participated in the Zonal Conference on Cost & Competitiveness of MSME in India organised by the Development Commissioner (MSME), Government of India, at Chandigarh. The primary objective of the conference was to gather valuable inputs and suggestions to uplift and strengthen the MSME sector across India.
City Air News
Dec 3, 2025 07:14
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Ludhiana, December 3, 2025: The Federation of Industrial & Commercial Organization (FICO) participated in the Zonal Conference on Cost & Competitiveness of MSME in India organised by the Development Commissioner (MSME), Government of India, at Chandigarh. The primary objective of the conference was to gather valuable inputs and suggestions to uplift and strengthen the MSME sector across India.
Under the leadership of Gurmeet Singh Kular, President FICO, along with Rajive Chawla, Chairman IamSMEofIndia, Team FICO actively took part in the discussions and shared key insights on improving the competitiveness of MSMEs.
“We have submitted that the Manufacturing Technology being used in MSME sector in India is age old, whereas the Global Manufacturing is way ahead, the government should focus on technology transfer to boost the MSME sector in India. Also, the Loans to MSME sector should be provided at Low Interest Rates. A major takeaway from the session was the important update shared regarding the revised definition of a Small Company by the Ministry of Corporate Affairs (MCA). As per the new notification issued on 1st December 2025, under the amended Companies (Specification of Definition Details) Rules, 2014: is that the Paid-up Capital: Shall not exceed ₹10 Crores and Turnover: Shall not exceed ₹100 Crores. FICO urges all members to kindly review these revised criteria and evaluate their company’s status accordingly to ensure proper compliance and smooth future filings”, said Gurmeet Singh Kular President FICO.
Amongst Present were Rajeev Jain Senior Vice President FICO, Raghbir Singh Sohal Head Plywood Division FICO.
