Economic Success Story will Come from MSMEs: Kalraj Mishra

The emerging economic scenario in the country has thrown upon vast opportunities of development and diversification for the units in the Micro, Small and Medium Enterprise (MSME) Sector. This was stated by Mr Kalraj Mishra, Union Minister of Micro, Small and Medium Enterprises, Ministry of MSME, Government of India  while inaugurating the 2-days’ Symposium on “Growth and Prospects of MSME Sector in Emerging Scenario” being organised by the National Institute for Entrepreneurship and Small Business Development (NIESBUD) in collaboration with CII.

Mr Mishra stated that MSME sector has inherent characteristics of innovative strengths which will play a much larger role in the revival of the Indian economy. This segment will emerge as a potent tool to exploit the demographic dividend being enjoyed by the nation at present. "The present government is not just working for the betterment of economy but it has committed towards bringing reforms for the nation. MSMEs have been acknowledged as the drivers of economic growth of India. The present Government’s initiative of “Make in India” and its emphasis upon increasing the share of the Manufacturing Sector in the Gross Domestic Product (GDP) from the present 14-15% to 25% by 2022, have the potential of transforming the fortunes of the Sector enabling it to scale hitherto unheard heights," said Mr Kalraj Mishra while emphasizing the importance of MSMEs in Indian economy.

Mr Kalraj Mishra shared a glimpse of Government of India's plans for enabling the MSME units to play the role expected of them in the changing economic environment, impressed upon Panelist and Delegates of the Symposium to deliberate upon the strategies for strengthening the units so that their products are of world standard and easily acceptable in the global markets. "The biggest success is yet to come for Indian economy, we all know that the economic success can be achieved through MSMEs. Access of information regarding schemes and MSME friendly policies are must. Our government is taking all steps for spreading the cult of entrepreneurship, skill development and sustenance of MSME units. More and more awareness regarding these schemes and government's plans will bring a much needed positive results for the economy."

Mr Mishra also expressed hope that the deliberations during the course of the Symposium would further strengthen Government’s efforts in this regard.

Mr Arun Kumar Jha, director general, NIESBUD said, "As a nodal institute committed towards Skill development and entrepreneurship development to bring employement and self employment closer to Indian youth. In next one year, we are committed to train close to 1,00,000 Indian youth in next one year." NIESBUD is working towards creating job ready youth for the market.

The Symposium is being attended by more than 400 delegates representing different Government Ministries; Industry; Industry Associations; Academia; Financial  Institutions; Support Organisations and Experts connected with the Sector.