More MSMEs need to be brought within the defence supply chain ambit: Bhanu Pratap Singh Verma – The Economic Times

Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/more-msmes-need-to-be-brought-within-the-defence-supply-chain-ambit-bhanu-pratap-singh-verma/articleshow/90542065.cms

Synopsis

Emphasising the extensive and valuable contribution of the MSMEs in making the vision of Atmanirbhar Bharat through Make in India a reality, the minister highlighted the sector’s relevance for the Indian economy.

Minister of State for MSMEs Bhanu Pratap Singh Verma on Wednesday said that more MSMEs need to be brought within the defence supply chain ambit.

“About 50% of the manpower in manufacturing in India is engaged by MSMEs. The Ministry of Defence has taken some important steps to promote MSMEs in the sector, especially for defence, which has emphasised moving forward on the path of self-reliance,” he said while speaking at the ‘2nd International Conference on Defence and Security’ organised by PHDCCI in the capital. The two day event witnessed participation of policy makers, industry stalwarts and international delegates.

Deliberating further on the extensive and valuable contribution of the MSMEs in making the vision of Atmanirbhar Bharat through Make in India a reality, the minister highlighted the sector’s relevance for the Indian economy. “Exports stood at Rs 38,000 crore in the last seven years; more than 12,000 Micro and Medium Enterprises (SMEs) are involved in the defence sector and there has been an increase in research and development, start-ups, innovation and employment,” he said.

The Ministry has also prepared and circulated the Policy Document for MSMEs in India for their comments from the industry to facilitate creation of a vibrant ecosystem for rapid growth of the MSME sector and also for real infrastructure and responsible linkages for MSMEs. “Identifying and sensitising stakeholders to promote MSMEs to the best of their ability from manufacturing and ensuring access to credit, capital exposure, raw materials and marketing facilities for MSMEs has been the endeavour,” Verma added.

Elaborating on the work being done by the government, he said that PM Modi had decided on a self-reliant India in the defence sector, under which defence corridors are being built in Uttar Pradesh. “I want to give a new name to MSMEs as M-Modi, S- Se, M-Mumkin, E-Enterprises,” he said.

Also speaking at the event, Sanjay Jaju, IAS, Additional Secretary Defence Production Ministry of Defence, Government of India, said that India’s defence manufacturing ecosystem is going through the most exciting phase at present. “This is driven by the nation’s self belief in its capabilities and abilities to be world class in defence, security infrastructure and manufacturing. Deriving advantage from our demographic dividend, self-belief is the starting point for building an Aatmanirbhar Bharat,” he stated.

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