MSME sector accouts for around 60% employment : Prez

Speed Post News Network

New Delhi :  The President of India Ram Nath Kovind on June 27, 2018,  said that the MSME sector is leveraging the demographic dividend of the country and promoting inclusive growth in rural and backward areas. He said that MSME sector accounts for around 60% employment in India.

The President said that there are 6.5 crore MSME units across the country employing over 11 crore people and contributing over 10% growth which is higher than heavy industrial units. The President inaugurated the Udyam Sangam-2018 in New Delhi on June 27. Referring to Udyam Sakhi portal of the MSME Ministry, he said that it will empower women and weaker sections by providing training to 80 lakh women.

The President appreciated the work done by Arunachalam Muruganatham in promoting women’s hygiene by manufacturing low-cost sanitary napkins. Entrepreneurs in more than 100 countries are now trying to replicate this. A film documenting his struggle has been made. The President desired that many more such films documenting the contributions of innovative Micro and Small Entrepreneurs should be produced, according to a PIB release.

The President of India launched the Solar Charkha Mission on June 27 which will cover 50 clusters and every cluster will employ 400 to 2,000 artisans. The Mission has been approved by the Government of India for which the MSME Ministry will disburse subsidy of Rs  550 crore to the artisans. He further said that the Solar Charkha Mission will generate employment in rural areas and contribute to the green economy.

The President also referred to the special relief given to the MSME sector under Insolvency and Bankruptcy Code which will allow promoters to bid for an enterprise undergoing Corporate Insolvency Resolution Process. He mentioned that micro and small units are producing parts for Indian Space Research Organization (ISRO) and Tejas fighter aircraft.

A portal of the Ministry of MSME called “Sampark” was also unveiled by the President. This portal will act as a bridge between the talent pool and those enterprises seeking trained manpower.

Nearly three thousand delegates from Ministries and Departments of Central Government, State and Union Territories, Autonomous Bodies, MSME Associations, Non-Banking Financial Corporations, Private Sector and Public Sector Banks, Venture Capitalists, Entrepreneurs and Self Help Groups participated at the day long conclave.

The purpose of the Conclave is to encourage dialogue and partnerships among various stakeholders of the MSME ecosystem for promoting innovation and knowledge sharing on MSME related issues.

“Udyam Sangam 2018” is a step forward towards consolidating the convergence and synergy of all the government initiatives relating to MSME Sector.

The UN General Assembly at its 74^th Plenary held on April 6, 2017, had declared  June 27 as Micro, Small and Medium-sized Enterprises Day recognizing the importance of Micro, Small and Medium-sized Enterprises in achieving sustainable development goals and in promoting innovation, creativity and sustainable work for all.

Minister of State (I/C), MSME, Giriraj Singh, Secretary, MSME, Dr Arun Kumar Panda, Secretary, Ministry of Skill Development & Entrepreneurship, Dr K P Krishnan and other senior officials were also present at the inaugural session.