DICCI will use economic reforms to boost SMEs: Milind Kamble

The chairman of the DICCI revealed that when businesses are closely regulated and enforced, it curbs manipulation thus widening the net for new players across the sectors.

Written by Shubhangi Khapre | Mumbai | Published:November 13, 2016 1:36 am
Milind Kamble, Dalit Indian Chambers of Commerce and Industries,  DICCI, India news, Latest news, India news, latest news, India Business news Dalit Indian Chamber of Commerce and Industry chairman Milind Kamble. Ganesh Shirsekar

Any economic reform model that can check black money and bring stability to Indian rupee will be the first step towards boosting the small and medium entrepreneurs as it paves the way for a level-playing field, said Dalit Indian Chambers of Commerce and Industries (DICCI) chairman Milind Kamble. “Our organisation will use these reforms to promote SMEs and Dalit entrepreneurship with greater zeal,” he revealed.

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While describing the currency replacement as a big bold move that would take the reforms to level next, he said, “I believe the decision would lead to putting a cap on the business monopoly and open the gates for one and all across sections. When there is financial stability in the market, SME will flourish.”

The chairman of the DICCI revealed that when businesses are closely regulated and enforced, it curbs manipulation thus widening the net for new players across the sectors. The Dalits and backward entrepreneurs have golden opportunity to reap the benefits of the new economic reforms to take ahead their battle from social to economic empowerment. Kamble said, “DICCI has 90 lakh Dalit entrepreneurs whose annual turnover is Rs 1.80 lakh crore. The Dalits entrepreneurs tax contribution to the country is approximately Rs 1,800 crore.”

Recalling B R Ambedkar has emphasised on currency change every ten years in his thesis on Problems of Rupee and its solution, he said, “When the system is made more accountable, the benefit of reforms will have to be carried to the Dalits, tribals and backward sections. I believe the cashless system will help the Dalit entrepreneurship.”

While reiterating how DICCI’s moto has always been to maintain a neat and clean balance sheet, he said, “The demonetisation of Rs 500 and Rs 1,000 notes should not be seen as a stand alone decision. If we percieve the overall reforms complete with digitalisation, ease of doing business policies, jan dhan yojana, aadhaar card, start up and stand up schemes,

it shows there is a strategy to extend the economic dividends across sectors and section.”

The DICCI chairman said, “The demonetisation was a final axe on those hoarding money. As we glance at the process in last two years, there have been repeatedly appeals along with provision to enable people to come forward and declare their assets which were unaccounted.”

For several decades there have been a huge unrest amongst the taxpayers, which is minuscule against non-tax payers, who got away using the loopholes in the system. Now, these reforms are not only going to trap them in net but would continue to keep the vigil ahead, he said. Drawing a parallel between currency replacement undertaken by former Prime Minister Morarji Desia and Modi, he said, “During the Janata Party regime, the infrastructure which was required to make the system flawless was missing. Therefore, it did not make the required impact. The economic scenario was very different with only sizeable having access to big notes.”