New Delhi:
Union Micro, Small and Medium Enterprises (MSME) Minister Jitan Ram Manjhi participated in the NDTV Emerging Business Conclave today. In this conclave, Union Minister Jitan Ram Manjhi talked about various schemes, training and employment generation of the MSME Ministry. As we know that MSME is an important part of India’s growth. It is also called the backbone of India’s economy. In such a situation, how important will be the role of MSMEs in innovation, job creation and inclusive development in becoming a 5 trillion dollar economy?
In response to this, Jitan Ram Manjhi said that MSME is an important department which is the biggest provider of income and employment to India after agriculture. The latter can be estimated from the fact that its contribution to GDP is 30.1 percent and its contribution in manufacturing is 35.4%.
Major contribution of MSME in achieving the target of 5 trillion dollar economy
Union Minister Jitan Ram Manjhi further said that the country which has more exports is considered prosperous. MSME department has 45.73 percent contribution in exports. In such a situation, to achieve the target of 5 trillion dollar economy, we are working to take it forward through cooperation in manufacturing and exports.
MSME is providing employment to the youth of the country.
MSME is considered the driver of social and economic development. In such a situation, what is the initiative taken by the government to promote this sector through easy access to loans, digitalization and keeping it connected to the market? Talking about this, Jitan Ram Manjhi said that the number of youth in India is high and the MSME department provides employment to unemployed youth and provides them social, economic and educational progress. For this we have Udyam Registration Portal. Youth register on this portal.
He told that as far as loan is concerned, there is a facility that there is no need of bank guarantee for lean loan up to Rs 5 crore. Due to this facility youth are getting attracted. Have given bank guarantee of about Rs 6.78 crore till June 30, 2024.
Important role of MSME in country’s economic growth and employment generation.
Partnership between industry, government and financial institutions is necessary for MSMEs. So that a sustainable ecosystem remains. In such a situation, how can MSME promote the country’s economic growth, employment generation and sustainable development? In response to this, Jitan Ram Manjhi said that we are running the Pradhan Mantri Vishwakarma Yojana. In which 18 small schemes have been included. In this, along with training and giving loans, work is being done to provide subsidiaries.
There is another such scheme named Pradhan Mantri Employment Guarantee Scheme… In this too, we have provided employment to 9.84 lakh people till 21 November 2024. Total employment generation is 8.33 lakh. In this, 80 percent employment is being given in rural areas and 20 percent employment is being given to the people of urban areas.
MSMEs can take the country’s development journey to new heights
Jitan Ram Manjhi said that we promote MSME through the conference because MSME is for such people who cannot reach big companies. Today there are 24,000 heavy engineering factories and 6 crore units are working. 23 crore people are engaged in this. The aim of MSME is to develop as many rural areas as possible and provide employment to people while emitting minimum carbon dioxide. So that our India can regain its old glory. India’s MSMEs can move forward to their full potential and take the country’s development journey to new heights.
