Interface Venture’s Karan Desai expects reforms in Budget 2023 to drive MSME growth

Speaking on the Union Budget 2023 expectations, Karan Desai, Founder of Interface Ventures has emphasized the need to have a special focus on the MSME sector.

Desai suggests that the government should push for the implementation of the PLI scheme and enhance the scope of earlier schemes like the ECLGS and the CGTMSE, and should also consider a tax break for MSMEs and reinstate the 2% interest subvention scheme for GST-registered MSMEs.

Further adding to the expectations, Desai cites the automotive sector as a successful example. He suggests that the government should encourage other sectors to provide similar levels of support to small MSME suppliers in their supply chain ecosystems.