“With the government increasing opportunities for local MSMEs and reducing dependence on imports, MSMEs will be able to scale up operations and gain higher market share across the various sector,” said the Minister of State for Micro, Small and Medium Enterprises
MUMBAI: Speaking at an ASSOCHAM conference Pratap Chandra Sarangi, Minister of State for Micro, Small and Medium Enterprises, said that the government understands the importance and contribution of MSMEs for the nation and is fully committed to support the MSME sector grow and reach its full potential.
Addressing the session on ‘Organising the unorganised essential for enhanced competitiveness’ at ASSOCHAM’s virtual conference, Sarangi in a statement said, “The MSMEs sector plays a pivotal role in the growth of the nation. Coronavirus because of which lockdown had to be enforced gave a massive blow to the industry including MSMEs and to deal with this Prime Minister Narendra Modi announced a package a Rs 20 lakh crore package. The government revised the definition of MSMEs, bringing it in line with global standards, a move that will help MSMEs to scale up and generate more employment. With the government increasing opportunities for local MSMEs and reducing dependence on imports, MSMEs will be able to scale up operations and gain higher market share across the various sector.”
ASSOCHAM is organizing a five day long virtual conference on its Foundation Day with the theme ‘India’s resilience: Atmanirbhar roadmap towards US$5 trillion economy’ where a series of sessions organised and attended by various ministers including Nirmala Sitharaman, Nitin Jairam Gadkari, Ravi Shankar Prasad, Piyush Goyal, Smriti Zubin Irani, Dharmendra Pradhan, D.V. Sadananda Gowda, Narendra Singh Tomar, Pratap Chandra Sarangi, Santosh Gangwar, Arjun Ram Meghwal, and Prahlad Singh Patel.
In a statement, Niranjan Hiranandani, President, ASSOCHAM, “The MSME sector contributes 29.7 per cent to India’s GDP and accounts for 49.66 per cent of Indian Exports and close to 45 per cent 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 Narendra Modi 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.”
Vineet Agarwal, Sr. VP, ASSOCHAM, in a statement, said, “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 MSMEs that they make optimal use of the technology-enabled platforms.”
In a statement, Sushil Sarawgi, Managing Director, KOR Energy (India) Pvt. Ltd. said, “Unorganised sector should get better access to low-cost capital, better access to latest production technologies so as 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.”
“MSMEs face two major problems currently Marketing & Finance; if they adopt technology and go into digitalization, they’ll get lots of benefits,” said Bikky Khosla, CEO, TradeIndia, in a statement.