Bhubaneswar: Union Minister for Micro, Small, and Medium Enterprises (MSME), Jitan Ram Manjhi, highlighted the crucial role of MSMEs in driving India’s movement towards Atmanirbhar and Viksit Bharat during the International MSME Day event, ‘Udyami Bharat.’ Emphasizing an inclusive and focused approach, especially in rural areas and hinterlands, Manjhi echoed Prime Minister Narendra Modi’s vision for a self-reliant and developed India.
In his address, Manjhi underscored the necessity for MSMEs to adapt to digital and technological advancements in a rapidly evolving industrial landscape. He noted that ongoing government reforms, including legal reforms in the MSME sector, would act as force multipliers for growth and development. Manjhi identified six key pillars for MSME development:
- Formalization and Access to Credit
- Increased Access to Market and E-commerce Adoption
- Increased Productivity through Modern Technology
- Enhanced Skill Levels and Digitalization in the Service Sector
- Support to Khadi, Village, and Coir Industries for Global Reach
- Empowerment of Women and Artisans through Enterprise Creation
He stressed the importance of building upon these pillars in a meticulous and strategic manner.
During the event, Manjhi launched the MSME TEAM Initiative and the Yashasvini Campaign. The MSME TEAM Initiative aims to facilitate five lakh micro and small enterprises in onboarding onto the Open Network for Digital Commerce (ONDC), providing financial assistance for various aspects such as onboarding, cataloguing, account management, logistics, and packaging. Notably, half of the beneficiary enterprises will be women-owned.
The Yashasvini Campaign focuses on formalizing women-owned informal micro-enterprises and offering capacity building, training, handholding, and mentorship. The Ministry of MSME, in collaboration with other Central Ministries, State Governments, and Women Industry Associations, will organize a series of campaigns across the country, particularly targeting Tier 2 and 3 cities during FY 24-25.
Union Minister of State (Independent Charge) for Law and Justice, Arjun Ram Meghwal, addressed the reforms needed to make MSMEs globally competitive. He emphasized the Modi Government’s efforts in ensuring ‘ease of doing business’ and ‘ease of living’ through legal reforms and technological innovations.
Union Minister of State for MSME, Sushri Shobha Karandlaje, highlighted the significant contributions of MSMEs to employment, manufacturing output, and exports. She urged MSMEs to focus on innovation, creativity, and sustainable development to remain competitive.
The event also featured speeches by notable figures including Auguste Tano Kouame, Country Director of the World Bank, Justice (Retd.) Hemant Gupta, Chairperson of the India International Arbitration Centre, Delhi, Rajiv Mani, Secretary of the Ministry of Law and Justice, and S.C.L. Das, Secretary of the Ministry of MSME.
The event witnessed participation from Central and State Government officials, the legal fraternity, academia, the World Bank, other multilateral agencies, and industrial associations, all coming together to discuss the future of MSMEs in India.