Gadkari urges MSMEs to avail concessional finance and install rooftop solar

Union Minister Nitin Gadkari recently invited MSMEs to avail concessional debt finance to install rooftop solar for business efficiency. The Minister for Micro, Small and Medium Enterprises (MSMEs) and Road Transport & Highways said rooftop solar offers an excellent value proposition to MSMEs by significantly bringing down cost of electricity consumption, which on an average, is up to one-fifth of their operations cost.

Addressing a programme virtually, Gadkari said, "I believe there is a strong business case for MSMEs to install rooftop solar, and achieve significant savings to achieve the cost-competitiveness. I am confident that MSMEs will stand together in generating and consuming solar power using their rooftops."

The minister observed that a large amount (Rs 8 on an average, and higher per unit) is being paid by the MSMEs for power consumption, which contributes up to one-fifth of the overall production costs."By facilitating MSMEs to decarbonise their power consumption in a sustainable manner, India can achieve a twin objective of greening the economy and uplifting MSMEs to become highly competitive by reducing its power costs," he added.