In order to get highest standards of services and access to cheaper credit for small, medium and solo entrepreneurs, Niti Aayog Vice-Chairman Rajiv Kumar has expressed a need to re-look at public policies, as there is a huge supply bottleneck of credit in the financial system for small, medium and solo enterprises. He also said women need to be given special attention on nutrition and education, as these are important for them to become successful entrepreneurs.
Rajiv Kumar further underlined a need to see how to create the culture of bringing angel investors for these small enterprises, how to bring technology and to see what could be public policy steps to ensure that the small, medium and solo enterprises have access to the highest and most-developed forms of services that they need. Besides, he said that services such as access to credit, technology, market and information are readily available to the formal sector but not to the informal sector.
Niti Aayog Vice-Chairman described the Indian entrepreneurs as ‘the best in the world’ but said that they face lack of services that a developed state can provide, adding that the ground reality is that there are women who are undernourished and it is even higher in case of female child. He also said ‘it is good to dream about the fact that 50 per cent of the gross domestic product would come from micro, small and medium enterprises but at the moment, we are too far away’.