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Time of India
2 days ago
- Business
- Time of India
ET Make in India SME Regional Summits: Surat's $1.5 trillion vision
Live Events In 1994, Surat was branded one of India's dirtiest cities. Today, it stands as a testament to urban transformation and entrepreneurial spirit, a metamorphosis that JB Dave, General Manager of the District Industries Center , believes reflects the city's core DNA of "resilience and willpower." Mr Dave delivered a keynote titled 'Empowering MSMEs: Roadmap for a Vibrant and Resilient Surat' at the ET Make in India SME Regional Summit - Surat, which took place on July 18. The summit had IDBI as banking and lending partner and Canon as tech transformation isn't just about cleaner streets. It's about economic ambition on a scale that could reshape western India's industrial landscape. By 2047, it aims to anchor an economic region worth $1.3 to $1.5 trillion, a figure that would represent 35% of Gujarat's projected economic engine runs on small and medium enterprises. The city ranks second nationally in Udyam registrations, cementing its status as an MSME hub that attracts entrepreneurs from across India and beyond. With a per capita income of $4,586 (20% above Gujarat's state average), Surat already punches above its weight numbers tell a compelling story: the Surat Economic Region, spanning six districts from Bharuch to Vapi, currently contributes $72 billion to Gujarat's $280 billion economy, a hefty 25% share that underscores the region's economic Surat dominates India's domestic textile market, Dave emphasised that the city's next chapter must be written in global markets. "Surat is capable of anything," he noted, 'But transitioning from domestic strength to export excellence requires MSMEs to navigate three critical challenges: improving quality, boosting productivity, and overcoming non-tariff barriers imposed by developed nations.'These barriers, ranging from carbon footprint concerns to human rights compliance, represent the new battleground for Indian manufacturers. NITI Aayog has already begun assisting MSMEs in decarbonising their operations, while the Gujarat Textile Policy 2024 now includes renewable energy equipment under 'plant and machinery', making businesses eligible for capital and interest the most immediate challenge facing Surat's MSMEs is cash flow management during production cycles. When buyers delay payments, small manufacturers often face crippling credit crunches. To address this, the MSME Facilitation Council in Surat, which is one of six established across Gujarat, serves as a mediator between buyers and council currently handles over 3,500 cases. Yet, Dave pointed out that many entrepreneurs remain unaware of their rights, including the legal requirement for payments within 45 days. This knowledge gap represents both a challenge and an opportunity for the city's business the MSME Development Act undergoing revision and a new MSME policy in development, Surat stands at an inflection point. The NITI Aayog's Surat Economic Region Plan extends to 2047, providing a long-term roadmap that aligns local entrepreneurial energy with national economic a city once synonymous with urban decay to a region targeting trillion-dollar economic output, Surat's journey embodies the transformative potential of Indian cities. As Dave concluded at the ET SME Summit - Surat, it's this embedded culture of resilience that continues to draw investors and innovators… and may well power the next phase of India's economic ET Make in India SME Regional Summits, ET MSME Day, and ET MSME Awards are flagship initiatives to celebrate the versatility and success of India's MSME sector. If you lead or are part of a micro, small, or medium enterprise, register for the ET MSME Awards 2025 before August 31, 2025.
Time of India
02-07-2025
- Business
- Time of India
200 youths in Gzb to get tips on entrepreneurship
Ghaziabad: At least 200 youths from the city, who received loans under the CM Yuva Udhyami Yojna, will be trained in entrepreneurship ideas under a govt initiative. The district administration has partnered with SkillingYou to provide practical business knowledge, structured training, mentorship, and continuous support to help them start and grow personal ventures. Officials said that the programme will begin in July, with the selection of youths who wish to start their businesses. They will need to fill out an application form and take a free Yuva Udyami Aptitude Test through the SkillingYou mobile app to assess their skills in areas such as market understanding, business knowledge, learning mindset, risk-taking ability, and financial awareness. Based on the test results, selected participants will be provided with a one-month business training programme covering everything from launching a startup to marketing, sales, finance, legal requirements, social media, and the use of AI in business. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida "We want our youth to have the right training and mentorship so they can confidently set up their businesses. Real change happens when timely information and support reach the right people. To encourage entrepreneurship among the youth of the district, an MoU has been signed between the District Industries Center (DIC) Ghaziabad and SkillingYou," said Avinav Gopal, chief development officer, Ghaziabad. Officials further added that under the CM Yojna, every youth was given financial aid of Rs 5 lakh to start a personal venture. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta lanterna está esgotando em todo o Brasil após os últimos apagões! Lanterna Super Potente Saiba Mais "Many youths have business ideas, but they don't have skills such as financial literacy or business model knowledge. In Ghaziabad, the organisation will work closely with the administration to execute this entire entrepreneurship initiative and help young people become self-reliant," said Gopal. Officials said that on completion of the training, the youths will receive certificates. Further support will be provided to help them access govt loan schemes and set up their businesses with step-by-step guidance.
