At the Fueling India 2022 event in Mumbai, Union Minister of Micro, Small, and Medium Enterprises (MSME) Narayan Rane introduced Repos Pay, a platform for Mobile Electric Charging, and Phy-gital a platform for fintech. On the Repos Pay platform, users can order mobile electric charging vehicles and use them to charge their cars. A Fintech platform called Phy-gital will use technology to enable consumers to use credit to fuel purchases (Buy Now Pay Later). Fuel-on-credit options for large users will be facilitated through the energy fintech platform.
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KEY POINTS:
- P. Udaykumar, chairman of the National Small Industries Corporation, praised the aspiring businesspeople who are making waves in the energy sector despite the fact that the majority of start-ups in the nation are in the IT and digital industries.
- Speaking about the MSME ministry’s and NSIC’s support of the nation’s micro, small, and medium-sized businesses, Shri Udaykumar said that their goal is to establish a very beneficial MSME ecosystem. India is currently the focus of attention from the entire world. Even throughout COVID, the country’s MSME sector persevered.
- Shri Udaykumar continued by stating that the sector’s performance has returned to pre-COVID levels. He also discussed the Ministry’s and the Government’s initiatives to help MSMEs.
Important Takeaways For All Competitive Exams:
- Chairman of the National Small Industries Corporation: Shri P. Udaykumar
- Union Minister of Micro, Small, and Medium Enterprises (MSME): Narayan Rane
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