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MSMEs Must Explore the Booming Defence Sector: Kalraj Mishra

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The Union Ministry of defence has ensured the participation of the Indian MSMEs (Micro, Small and Medium Enterprises) in defence sector for high technology products and services, Union MSME Minister, Kalraj Mishra said.

The Union Minister also said , MSME can look forward to integrate themselves into the supply chains of Indian and international defence majors, said Mishra while inaugurating a seminar on ‘Seminar on Financial Clinic for MSMEs,’ organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

From April 2015, all PSUs, central government ministries and departments have been directed to procure at least 20 per cent of products and services required by them from micro and small enterprises. The move will enable startup MSMEs to be a part of the mandatory 20 per cent public procurement, said minister according to a release.

The technology centre will have infrastructure to provide professional training among others in tool making, metal cutting, maintenance, advance welding, information technology and industrial automation,” said Mishra.

He further said our ministry focus is twin-fold: entrepreneurship and skill development. To create entrepreneurship and also to create an entrepreneur mindset so that more and more people become entrepreneurs. Second is to provide employment to the unemployed.

Mr Mishra said that direct investment in SMEs supports sustainable economic development. Also, we have seen that facilitating the growth of these companies by providing access to risk capital and business assistance can empower a company to overcome the impediments to its growth and lead to its production of higher value-added products or services for both domestic and international consumers, while accelerating the development of its surrounding community.
The skill development ministry has made various announcements in this regard, but our ministry also has planned certain schemes. Our schemes are ‘zero defect, zero effect’ which means ‘doshmukt nirman’. Zero defect means environment friendly, informed the Union MSME Minister.

For such kind of quality products we are working on the National Manufacturing Competitiveness Programme (NMCP). Through this scheme we will create quality products for which we are training people. It has various kinds of technology, including technological quality and tool centre system, said Mishra.

“We have started a web portal for the digital employment scheme. Through the portal, we will know the requirements of a particular industry and if a youth feels the requirement matches his needs then they could negotiate. We are also trying to give training through incubation centres for livelihood,” the Minister added.

SME investment leverages promising businesses to catalyse social-economic growth and entrepreneurship in local communities and markets. When done correctly and sustainability, such investment also produce significant returns for our investors.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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