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SEPTEMBER - 2019
HON. SECRETARY'S MESSAGE

It is a great privilege for me to serve this great Industry Association as the Secretary
under the leadership of our new President, and at the outset, I would like to
express my heartfelt gratitude to everyone – my fellow Office Bearers, the outgoing
OB, MC Members, Members and everyone else associated with PIA in one way or
the other.
I assure you that I will work tirelessly to enhance the quality of our services to our
Members, and administration at PIA, so as to make it a memorable experience for
anyone who visits PIA Bhavan.
Friends, we at PIA have made our own preliminary review of the effects of the
economic slowdown on Peenya Industrial Area and surrounding areas, and as our
President has noted, things are certainly bad, but they are not necessarily going to
be south-bound for too long. But for this, we need robust, proactive and strong
governmental and institutional hand-holding support, which we are following up
with the concerned authorities at the highest level.

There are a few developments that can aid the small entrepreneur even in these trying times. For example, eligible
Member-units should take note of the Credit-Linked Capital Subsidy & Technology Up-gradation Scheme (CLCS-
TUS) which has been continued for the next three years from 2017-18 to 2019-20 and use it to gain a more
competitive edge, upgrade their technology, improve product quality, enhance productivity, reduce waste and
promote a culture of continuous improvement.
Further, all micro, small and medium enterprises in Peenya who have a valid Udyog Aadhar Number [UAN], valid
GSTN Number, and availed incremental term loan/ fresh term loan/ incremental working capital during the current
FY viz. from Nov 2, 2018 (up to the next FY), are eligible for availing 2% interest subvention for MSMEs.
Member-units are advised to contact their lending Banks immediately to get the benefit of this lower 2% interest
payment, and if you have any problems on this front, we request you to contact us immediately so as to enable us to
take up the issue at the appropriate level and get it suitably addressed.
For prospective new entrepreneurs setting up a business, they may note that the GST Council has made Aadhaar
verification mandatory for such new Dealers from January 2020. Earlier, Aadhaar authentication was optional.
But over the past two years the Union Finance Ministry was faced with increasing instances of fly-by-night operators
trying to game the system to their advantage by raising fake invoices, and so has made Aadhaar verification
mandatory for GST-registered new dealers.
Please feel free to send us your suggestions/feedback on how we can serve you better!
Warm regards,
Vijay Kumar S.Makal

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