By TIOL News Service

NEW DELHI, JAN 10, 2015: SPEAKING at the symposium of “Growth and Prospects of MSME Sector in Emerging Scenario” organised by The National Institute for Entrepreneurship and Small Business Development (NIESBUD) in active association with Confederation of Indian Industry (CII), the Minister, Mr Giriraj Singh, said that “Make in India” is not merely a slogan but a way of thinking for the Government.

Mr Singh emphasised that “intention” and “belief in leadership” are vital for transforming the fortunes of any Sector including the MSME Sector. Mr Singh also elaborated as to how emphasis upon increasing the share of eco-friendly khadi products in the MSME Sector from the present less than half a percent to 5% over the years would generate large scale employment opportunities mainly for women who constitute half of the population. This would also transform the face of rural India.

Recalling the significant contribution of the Sector to the Indian Economy, Mr Singh added that MSMEs have the potential of transforming themselves into a vehicle of enabling the country to regain her glorious ancient status in the economic affairs of the world.

The Minister of State also assured the delegates that the Government is committed to extend all possible help for maintaining and improving competitiveness of the micro and small units in the emerging economic scenario.

Mr Arun Kumar Jha, Director General, NIESBUD, briefly dwelling upon different issues discussed during the Symposium expressed the hope that based upon the deliberations of the Symposium, a Road Map for the Sector in the Emerging Scenario would be finalised and presented to the Ministry.

Mr Ashok Saigal, Managing Director, Frontier Technologies, representing CII, while emphasising upon the imperative of organising skill training in active association with Industry Associations for achieving the desired results, expressed hope that the Indian MSMEs will get a great boost from the emphasis being laid by the Government upon increasing the manufacturing activities in the country.

The two-day Symposium was attended by more than 400 delegates representing different Government Ministries; Industry; Industry Associations; Academia; Financial Institutions; Support Organisations and Experts connected with the Sector.

The recommendations as emerged out of the deliberations of the Symposium inter-alia include easier, timely and cost effective access to credit for MSMEs; strict monitoring of implementation of Public Procurement Policy for MSMEs and simplification of registration and regulatory mechanisms for micro and small units.