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File photo of Union Minister Piyush Goyal. Photo Credit: PTI
Commerce and Industry Minister Piyush Goyal on Saturday (August 24, 2024) said that the Quality Control Orders (QCOs) issued by the government for various products will protect MSMEs from unfair competition and help cut down imports of substandard goods.
He said that through these orders the government is supporting MSMEs (Micro, Small and Medium Enterprises).
“We are giving time to MSMEs to meet the QCO requirements,” he said, adding that MSMEs will benefit from these orders as “it prevents substandard goods from being imported from outside the country at exorbitant rates and thus helps the MSME sector by protecting it from unfair competition”.
He said that MSME should not be seen as merely a small enterprise.
He said the entire ecosystem around large industries and enterprises comprises thousands of MSMEs, without which they cannot succeed. He said MSMEs act as both suppliers and customers of large industries.
The sector also plays a vital role in the development of the country’s tourism and infrastructure and accounts for a major share of India’s exports.
He said, “Today many SMEs have listed their companies on BSE.”
Under these orders, unless those goods have the Bureau of Indian Standards (BIS) mark, they cannot be produced, sold, traded, imported and stored. These orders have been issued for goods like smart meters, nuts, bolts and fasteners.
Mandatory QCOs help curb imports of substandard products, prevent unfair trade practices and ensure the safety and well-being of consumers as well as the environment.
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