We need to make 50% of the growth of the Indian economy come from the Micro, Small and Medium Enterprises (MSME) sector, raise its contribution to exports to 60% and create 5 crore new jobs, stated Mr Nitin Gadkari, Hon’ble Minister for MSMEs and Road Transport and Highways, while speaking at the 16th Global SME Business Summit 2019 organized by the Confederation of Indian Industry (CII), co-partnered with the Ministry of Micro, Small and Medium Enterprises, Government of India.
While Mr Gadkari stressed that the foremost priority is to create new jobs, he added, “Taking advantage of new research and international best practices is critical to make MSME industry globally competitive, with a specific focus on developing enterprises in the rural and tribal sectors of the country.” In this context, he called for collaboration and cooperation from both domestic and international industry for greater investments as well as sharing of new ideas, research, innovation and best practices. Mr. Gadkari also called for industry collaboration on developing policies for encouraging MSMEs in manufacturing.
Mr Gadkari further added that sectors such as honey, bamboo, dairy, tourism, medical devices, and adventure sports, among many others have huge potential. He stated that efforts are underway in other areas including the diversification of the agricultural sector to energy and power, development of pollution free and indigenous technology, conversion of bio mass to bio energy etc. to attract international investors.
He added that the Government is going to launch an e-commerce portal soon, called “Bharat Craft” on the lines of Amazon and Alibaba, that would give a boost to Indian handloom and handicrafts products.
Dr. Arun Kumar Panda, Secretary, Ministry of MSME, stated that 153 technology centres would be set up in the next 5 years, which would help MSMEs to adopt new emerging and futuristic technologies. A digital platform is planned to help MSMEs to become part of the global value chain, he stated.
Ms. Alka Arora, Joint Secretary, Ministry of MSME, stated that the Indian MSME Industry will reach new heights with the help of the various focused interventions that the Government has taken up including the digital portal.
Mr. Shreekant Somany, Chairman, CII National MSME Council stressed on the role of innovation which he said was critical for MSMEs to face dual competition from their domestic as well as international counterparts. He further stated that with the help of the strong measures being taken up by the Government, the Indian MSMEs will be future ready.
Mr. Chandrajit Banerjee, Director General, CII, stated that CII’s Centre for Digital Transformation would help MSMEs tackle the multiple challenges they face and guide them in understanding their digital curve through skilling them in business processes to enhance their productivity and revenue. At the same time, CII was focused on providing opportunities to the MSMEs by stepping up its global connect through its international offices and 400 plus MoUs, Mr. Banerjee added.
24 September 2019
New Delhi