The Micro, Small and Medium Enterprises sector has a crucial role to play in making India a five trillion dollar economy by 2024. There is a huge pressure of inflation looming across the Indian business horizon.
While the margins of large domestic and multinational corporations have come under pressure, they still have to maintain the balance sheet to absorb raw material price shocks and the elbow room to pass on the cost to consumers. At the same time, medium small and micro enterprises, especially mom and pop stores, across India are not in the same boat as the large companies, and are far more vulnerable to the onslaught of raw material cost hikes and inflationary commodity cycles.
The sector is a prime driver of growth with their contribution to output and employment in all economies. This sector is a critical component of India's growth story, making significant contributions to GDP, employment and exports. The sector contributes in a significant way to the growth of the Indian economy — with a vast network of about 6.3 crore units producing more than 8,000 products and a share of around 30% in nominal GDP.
India’s #MSME sector continues to languish despite the pivotal role it plays in the Indian economy. With around 95 percent of all industrial units forming a part of this sector, they constitute a cornerstone for economic prosperity in our society. MSME is the second most important sector where the maximum number of people are involved.
Indian MSMEs are going through a rough patch the likes of which they have never seen before. First, due to the recurrent waves of pandemic and now the Russia-Ukraine war. Raw material price escalation has increased input costs for a wide swathe of MSMEs. To address the issue of the rising prices of raw materials, there is a need to ensure enough liquidity in the hands of MSMEs.
Smooth functioning of public sector units without disruption due to payment problems is of paramount .
We must pay more attention to MSMEs given their key role in the global economy.
For India, MSME means Maximum Support to Micro, Small and Medium Enterprises.
We have been working with our MSME sector to adopt the ethos of 'Zero Defect' and 'Zero Effect' on the environment.
-PM Modi
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For India, MSME means Maximum Support to Micro, Small and Medium Enterprises | PM Modi | G20 | MSME
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MSME दिवस पर राज्य स्तरीय कार्यक्रम शनिवार को, प्रदेश की पहली हस्तशिल्प नीति और MSME नीति होगी जारी
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Budget 2023: Nirmala Sitharaman MSME Sector को स्पेशल पैकेज | MSME के लिए नई Digital Locker Scheme |
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Confederation of Indian Industry has always given utmost importance to the MSME sector considering their relevance for the country. Several initiatives and interactions with the MSMEs at individual as well as cluster level have been undertaken to handhold them for their critical requirements. CII with its project Digital Saksham is working across India at the grass-root level to handhold micro-enterprises leverage the benefit of the Digital tools. This has resulted in micro and own account enterprises transforming the businesses from traditional to digital practices.
In the above context and to celebrate the transforming journey of MSMEs towards adoption of digital tools, CII is organising the maiden edition of The MSME Leadership Summit on 28th March 2023 at New Delhi. The theme of the Summit is “ MSME Digital Footprint: Inclusion & Diversity”.
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CII MSME LEADERSHIP SUMMIT | MSME DIGITAL FOOTPRINT - INCLUSION & DIVERSITY
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PM Shri Narendra Modi launches MSME Support & Outreach Programme in New Delhi
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PM Shri Narendra Modi's Speech at launch of MSME Support & Outreach Programme in New Delhi : 03.11.2018
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Gujarat CM was present in the (MSME) Support and Outreach programme organized in Vadodara.
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Governor Shaktikanta Das while speaking to the media said that the RBI circular to help MSME sector with loans up to rupees 25 crore needs to be addressed while keeping liquidity issues in view. he also added that he would be meeting the NBFCs shortly to see what best can be done to address their challenges.
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Prime Minister Narendra Modi's speech at the launch of the Micro Small & Medium Enterprises (MSME) 'Support & Outreach Program' in Delhi
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Watch PM Modi speech at the Micro Small & Medium Enterprises (MSME) 'Support & Outreach Program' in Delhi With HD Quality
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Prime Minister Narendra Modi launches the Micro Small & Medium Enterprises (MSME) 'Support & Outreach Program' in Delhi
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