Udyami Bharat Event Focuses on MSME Growth

The Union Minister for Micro, Small, and Medium Enterprise, Shri Jitan Ram Manjhi will preside over ‘Udyami Bharat - MSME Day event. The Ministry of Micro, Small, and Medium Enterprises (MoMSME) will celebrate ‘Udyami Bharat - MSME Day’ on 27th June 2024. This event offers an opportunity to key stakeholders, including policymakers, large companies, financial institutions, and the international community, to discuss and exchange ideas on the legal reforms needed in the MSMED Act for the growth and sustainability of MSMEs. As a part of legal reforms in the Act, the Ministry is committed to make the Act more inclusive, comprehensive, and holistic in its jurisdiction. The proposed legal reforms aim to align the MSMED Act with the transformative changes occurred in the economic and technological landscape since the enactment of the MSMED Act in 2006.

The event will feature four sessions, Reducing the Cost of Litigation for MSMEs., Presentation on the IIAC (Conduct of Micro and Small Enterprises Arbitration), Presentation on the use of Bhashini’s AI Software for MSE Arbitration, Plenary Session - Legal Reforms in the MSMED Act, 2006

The Union Minister for Micro, Small, and Medium Enterprise Shri Jitan Ram Manjhi, The Minister of State for MSME, Sushri Shobha Karandlaje and the Minister of State (Independent Charge) for Law & Justice, Shri Arjun Ram Meghwal will address the dignitaries and participants attending the event. The Union Minister of MSME and the Minister of State for MSME will also dedicate the MSME TEAM Initiative and the Yashaswini Campaign to the nation. The event will also see the exchange of MoUs between the Minisstry of MSME and the State Governments of Goa, Andhra Pradesh, and Maharashtra. Further, the MoUs will be exchanged between IIAC and Bhashini, NSIC and ONDC, and SIDBI and partner financial institutions. On the occasion of Udyami Bharat, the Ministry reaffirms its collective commitment to fostering a robust and sustainable MSME ecosystem.