Ease of Doing Business for MSMEs: Union MSME Minister Narayan Rane has called for leveraging quality and state-of-the-art technology for growth along with increased production and exports in the Micro, Small and Medium Enterprises (MSME) sector on Tuesday.
Speaking at the MSME Summit and Exhibition 2022 organized by Confederation of Indian Industry (CII) in Mumbai, he asked industry bodies to assist in the growth of the country’s MSME sector.
“Considering the capacity and experience of CII in the industry sector, CII’s assistance is crucial for development and expansion of MSMEs,” he said.
The minister informed that the number of entrepreneurs in the MSME sector are around 6 crores. Further, the MSME Ministry aims to increase entrepreneurship, production, employment and GDP in the sector with the objective of realizing Prime Minister Narendra Modi’s dream of a self-reliant India, the Minister said.
While the Government shall provide all possible support for development of the industrial sector, the dream of making the country a superpower can be fulfilled only with cooperation from industry, he said. “The support of industry is important for the country’s growth,” Rane added.
Sunil Chordia, Chairman of CII Western Region said that MSMEs have helped the country’s economy by following the basics of low investments, flexible operations and capability to develop good local technology.
MSMEs are crucial to the Indian economy and have made significant contributions to the socio-economic development of the nation. Along with creating job opportunities, it helps in the advancement of rural and under-developed areas of the country, he said.
The CII (Western Region) organized the 8th Edition of the MSME Summit and Exhibition 2022 with an objective to help MSMEs bounce back from challenging issues in environmental sustainability, finance, business continuity and exports and to adopt new solutions and make them boom.
Importantly, the minister in September inaugurated 72 units supported under the government’s employment generation scheme Prime Minister’s Employment Generation Programme (PMEGP) and disbursed margin money subsidy to 720 PMEGP beneficiaries.