Speaking at an ASSOCHAM conference here today Shri Pratap Chandra Sarangi, Hon’ble Minister of State for Micro, Small and Medium Enterprises, said that the government fully understands the importance and contribution of MSMEs for the nation and is fully committed to supporting the MSME sector growth and reach its full potential.
Addressing the session on “Organising the unorganized essential for enhanced competitiveness” at ASSOCHAM’s virtual conference, the Hon’ble Minister of State for Micro, Small and Medium Enterprises, said, “The MSMEs sector plays a pivotal role in the growth of the nation. Corona because of which lockdown had to be enforced gave a massive blow to the industry including MSMEs and to deal with this PM ModiJi announced a package of a 20 lakh crore package. The Indian Government revised the definition of MSMEs, bringing it in line with global standards, a move that will help MSMEsto scale up and generate more employment. With the Governmentincreasing opportunities for local MSMEs and reducing dependence on imports, Indian MSMEs will be able to scale up operations and gain higher market share across the various sector.”
The government is committed to doing as much more as needed for the sector. Now the time has come to be a self-reliant country and for this MSME can play a very important role in this mission of nation-building. We earlier used to import PPE kits but with our resolve, we are now in a position to export them.
The same is with several medicines. India is a huge market, and it’s time we can use it for our benefit and MSMEs can play a huge role here. And we as the public should also purchase things made locally. In fact, not only money should not move from India to foreign countries, but money should flow from urban to rural areas by purchasing rural made products. This will boost our MSMEs and economy, he added.
ASSOCHAM is organizing a five-day-long virtual conference on its Foundation Day from 15th to 19th December 2020 with the central theme “India’s resilience: Atmanirbhar roadmap towards US$5 trillion economies” where a series of sessions are being dedicated by various ministers including Smt. NirmalaSitharaman, Shri Nitin Jairam Gadkari, Shri Ravi Shankar Prasad, Shri PiyushGoyal, SmtSmritiZubinIrani, Shri Dharmendra Pradhan, Shri D.V. SadanandaGowda, Shri Narendra Singh Tomar, Shri Pratap Chandra Sarangi, Shri Santosh Gangwar, Shri Arjun Ram Meghwal, and Shri Prahlad Singh Patel.
Speaking at the event, Mr. NiranjanHiranandani, President, ASSOCHAM, said the government has done much for the MSME industry, it would continue to look for all the support it can get from the government especially during these times.
“The MSME sector contributes 29.7 percent to India’s GDP and accounts for 49.66 percent of Indian Exports and close to 45 percent of the manufacturing output of the country. It was one of those hit hardest by the COVID-19 pandemic, as supply chains disrupted across the world and trade came to an almost standstill. Under the leadership of PM Modiji, several measures were announced as part of the Aatmanirbhar Bharat package aimed to help MSMEs survive the impact of the unfolding pandemic, by infusing liquidity and lay the foundation of a more robust MSME sector for the long-term. Efforts should now be made that all the benefits announced for them reach them.”
Speaking on occasion, Mr. Vineet Agarwal, Sr. VP, ASSOCHAM, stressed the need for more technology adoption by the MSMEs for better efficiency and competitiveness.
“MSMEs face several challenges, including technological obsolescence, supply chain inefficiencies, increasing global competition, uncertain market scenario, and lack of funding. Given these challenges, it is critical to focus on creating tech-efficient MSMEsthat they make optimal use of the technology-enabled platforms.”
Speaking at the session, Shri SushilSarawgi, Managing Director, KOR Energy (India) Pvt. Ltd. said: “Unorganised sector should get better access to low-cost capital, better access to latest production technologies to make them cost-competitive. Better access and training on imparting Quality in Manufacturing and Service so that their product or service quality can match with organized MSME and large players.”
Moderating the event, Shri ManguirishPaiRaiker, Chairman, ASSOCHAM, Goa State Council and Chairman & Managing Director, Brown Packaging System Pvt. Ltd. said, “Atmanirbhar Bharat is key to the growth of our country which will help propel India to US$5 Trillion economies. MSME has the capability and capacity to manufacture good quality products to achieve self-reliance.”
Shri SreeramanThiagarajan, Co-founder & CEO, Agrahyah Technologies Pvt. Ltd., said, “Technology can empower MSME to scale”.
Mr. Bikky Khosla, CEO, TradeIndia, said” MSMEs face two major problems currently Marketing& Finance; if they adopt technology and go into digitalization, they’ll get lots of benefits.”
Mr. Vikas Gupta, MD, 360 Degree said: “We have the second-largest Livestock in the world. We have the craftsmanship and manpower still our share in the world is 3%, so you can imagine the kind of opportunity we are sitting on. We have to start thinking global.”
ASSOCHAM initiated its endeavor of value creation for the Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations, and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for the Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge-Based Economy.