He said that through these orders the Government is supporting SMEs.
The quality control orders (QCOs) issued by the government for different products will protect MSMEs from unfair competition and help reduce import of substandard products, Commerce and Industry Minister Piyush Goyal said on Saturday.
He said that through these orders the Government is supporting MSMEs (micro, small and medium-sized enterprises).
“We are giving time to MSMEs to comply with the requirements of the QCO,” he said, adding that MSMEs will benefit from these orders as they “stop the import of substandard goods at odd prices from outside the country and thereby help the MSME sector by protecting it from unfair competition.”
MSMEs should not be seen simply as small businesses, he added.
The entire ecosystem surrounding large industries and companies is made up of thousands of MSMEs, without which they cannot succeed, he said, adding that MSMEs act as both suppliers and customers of large industries.
The sector also plays an important role in the development of tourism and infrastructure in the country and has a major share in India’s exports.
“Today, several SMEs have listed their companies on the London Stock Exchange,” he explained.
Under these orders, no items can be produced, sold, traded, imported or stored unless they bear the mark of the Bureau of Indian Standards (BIS). These orders are issued for products such as smart meters, nuts, bolts and fasteners.
Mandatory QCOs help curb the import of substandard products, prevent unfair trade practices and ensure the safety and well-being of consumers as well as the environment.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 24, 2024 | 6:07 pm IS
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.