Robust MSME ecosystem key for sustainable growth: Prez
New Delhi: A robust micro, small, and medium enterprises (MSME) ecosystem is not only important but also essential for the country's sustainable economic development, President Droupadi Murmu said on Friday. Addressing the 'MSME Day' celebration in the national capital, she said that MSMEs are a strong pillar of the country's economy. 'They contribute significantly to GDP and promote innovation at the grassroots level.
These enterprises generate more employment opportunities at a relatively low cost of capital. Most importantly, these enterprises generate employment in rural and backward areas,' Murmu told the gathering.
She said that there is no doubt that the MSME sector is playing an important role in the progress of the country. 'However, this sector also faces many challenges, the major ones among them being the problem of finance, competition from big corporations, lack of latest technology, lack of raw material and skilled workforce, limited market and delayed payment,' the President emphasised.
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Hans India
16 hours ago
- Hans India
Robust MSME ecosystem key for sustainable growth: Prez
New Delhi: A robust micro, small, and medium enterprises (MSME) ecosystem is not only important but also essential for the country's sustainable economic development, President Droupadi Murmu said on Friday. Addressing the 'MSME Day' celebration in the national capital, she said that MSMEs are a strong pillar of the country's economy. 'They contribute significantly to GDP and promote innovation at the grassroots level. These enterprises generate more employment opportunities at a relatively low cost of capital. Most importantly, these enterprises generate employment in rural and backward areas,' Murmu told the gathering. She said that there is no doubt that the MSME sector is playing an important role in the progress of the country. 'However, this sector also faces many challenges, the major ones among them being the problem of finance, competition from big corporations, lack of latest technology, lack of raw material and skilled workforce, limited market and delayed payment,' the President emphasised.
Time of India
21 hours ago
- Time of India
Defence forces seek more MSME participation from eastern region
1 2 3 Kolkata: Defence forces are keen to enrol more micro, small and medium enterprises from the eastern region, including Bengal, and have sought the support of leading chambers to work as a bridge with local MSMEs for defence manufacturing. At the BCC&I Atmanirbhar Bharat Award & Conclave in the city on Friday, defence officials appealed to the MSME sector to come forward. Arjun Kumar, additional director of directorate of technology development fund of DRDO, said the organisation was pushing new projects for developing indigenous capabilities. According to him, the number of projects from the eastern region was fewer compared to the south, especially Hyderabad. "There are a few companies from Assam and Bengal involved in the projects. There are 80 projects under the fund but only 4-5 from the east," Kumar added. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata Arunava Bhattacharya, officer in charge, QAE (Naval), Kolkata, said Indian Navy was on a massive shipbuilding spree and needed indigenous manufacturers. "We want to increase our vendor base here. Once, Bengal MSMEs used to be a major supplier of components to the navy and other defence forces," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo Sushil Mohta, chairman of World Trade Center, NDITA, during his presentation, said it was facilitating Indian MSME participation at Oil & Gas Asia, Kuala Lumpur, Malaysia, for the first time. "WTC will play a catalytic role in promoting international trade opportunities for MSMEs here by leading a 20-member business delegation," he said. Meanwhile, FICCI West Bengal State Council organised the 6th edition of 'Empowering MSMEs for a Sustainable Future' on Friday. MSME secretary Rajesh Pandey said Bengal has over 93 lakh enterprises and the highest number of women-led enterprises in the country. The Merchant's Chamber of Commerce also organised a seminar on MSME Day.
India Today
a day ago
- India Today
Maharashtra partners with Nasscom foundation to boost micro-entrepreneurship
Aligned with MSME Day, Nasscom Foundation signed a flagship Memorandum of Understanding (MoU) with the Maharashtra Small Scale Industries Development Corporation Ltd. (MSSIDC), Government of Maharashtra. The collaboration aims to drive a large-scale capacity building program focused on strengthening the competitiveness and sustainability of 15,000 Udyam-registered micro and small entrepreneurs across the state with special focus on empowering women entrepreneurs. Nasscom Foundation will work closely with MSSIDC officials and the KPMG-led State Program Implementation Unit to strengthen the capacities of these micro initiative will be implemented under the Raising and Accelerating MSME Performance (RAMP) Programme, supported by the World Bank. It focuses on women entrepreneurs across key sectors such as energy efficiency, textiles, coir, handicrafts, renewable energy, manufacturing, waste management, and ODOP industries, enabling them with better access to digital tools, finance, and and training on the (Intellectual Property Rights) IPR Scheme for MSMEs, guidance on loans and digital loan application processes, and financial knowledge and managThrough this project, Nasscom Foundation will deliver a structured capacity-building program focused on three critical areas. ement. The initiative is designed not just to inform but to equip entrepreneurs with practical tools they need to formalize their businesses, access credit, and scale sustainably. Jyoti Sharma, CEO, Nasscom Foundation, emphasizing on the need for this initiative in today's business landscape commented, "Our MSMEs don't lack ideas, they often just lack access. This partnership with Maharashtra Small Scale Industries Development Corporation is about changing that. By offering targeted capacity building, we are not only supporting the entrepreneurs especially the women entrepreneurs, understand policies and processes but giving them the tools to build stronger, more resilient businesses. It's a step toward making India's MSME sector truly inclusive, digitally equipped, and globally competitive."advertisementPrashali Jadhav Dighavkar, Joint Managing Director, Maharashtra Small Scale Industries Development Corporation Ltd., said, "Strengthening MSMEs is central to driving Maharashtra's economic growth, and Intellectual Property Rights (IPRs) are a critical part of that journey. By building awareness about IPR across the state, we aim to equip small-scale industries with the knowledge and tools they need to protect their innovations and scale sustainably. These joint efforts are not just about legal awareness-they are about fostering innovation, encouraging ideation, and enabling the incubation of new businesses and entrepreneurial ventures that will shape the future of Maharashtra's MSME ecosystem."While MSMEs form the backbone of India's economy, they continue to face systemic challenges such as informal operations, limited access to credit, lack of awareness about government schemes, and weak digital adoption. This program addresses these challenges by offering entrepreneurs clarity, capability, and connection. By focusing on practical knowledge, scalable delivery, and strong government collaboration, this initiative aims to build a stronger, more future-ready MSME ecosystem in Maharashtra-and eventually, across Maharashtra Small Scale Industries Development Corporation Ltd., (MSSIDC), was established on October 19, 1962, with a view to giving a new orientation and strength to the development of Small Scale Industries (SSI) in the State of Maharashtra. The main objective of MSSIDC is to aid, counsel, assist, finance, protect and promote the interests of Small Industries. The Corporation renders assistance to approximately 30000 SSI units in the State. MSSIDC plays a vital role in revival, development, and growth of traditional handicrafts of Maharashtra by responding to the diversified needs of rural artisans and marketing their products in India as well as abroad.- Ends
