Staff Reporter
Commerce and Industry Minister Piyush Goyal today said that MSMEs contribute to nation-building by providing vital supply chains to large industries and employment to millions of people. Addressing the 10th India International MSME Startup Expo and Summit in New Delhi, Mr. Goyal said that MSMEs serve as both suppliers and customers for large industries and enterprises, whose entire ecosystem consists of thousands of MSMEs.
He pointed out that MSMEs play an important role in tourism and infrastructure development in the country and have a significant share in India’s exports. Mr. Goyal added that the government is assisting MSMEs through Quality Control Orders that protect them from unfair competition from abroad.
Goyal said that innovative ideas and new ways of doing things are the hallmark of the entrepreneurs of MSMEs. The entire ecosystem around big industries and enterprises comprises of thousands of MSMEs, without whom they cannot succeed, he said adding that MSMEs act both as a suppliers and customers of big industries.
Shri Goyal pointed out that MSMEs play an important role in tourism and infrastructure development of the country and have a big share in India’s exports. The growth of this sector is vital for the country and a focus area for the government, he said. Commerce Minister said that when 140 crore countrymen get together to contribute in nation building, India will become a developed nation by 2047 and we can ensure prosperity for all.
Shri Goyal highlighted the fact that through Quality Control Orders (QCO) the government is supporting the MSME sector. “We are giving time to MSMEs to meet the requirements,” he said adding that MSMEs will benefit due to two reasons. QCOs stop substandard goods imported at strange rates from outside the country and thus helps the MSME sector by protecting it from unfair competition. And secondly, when MSMEs meet the standards, they can become competitive both nationally and internationally and become profitable. There are numerous examples on how the QCs have benefitted individual sectors, he said.