New Delhi: President Droupadi Murmu today underscored the critical role of Micro, Small, and Medium Enterprises (MSMEs) in India’s economic journey, addressing a special event in New Delhi to mark MSME Day. The President hailed the sector as a “strong pillar of the country’s economy,” emphasizing its significant contributions to GDP, grassroots innovation, and robust employment generation, particularly in rural and underserved areas.
“A robust MSME ecosystem is not only important but also essential for the country’s sustainable economic development,” President Murmu stated. She highlighted that MSMEs create more job opportunities at a relatively low capital cost, fostering inclusive growth by empowering weaker sections and decentralizing development.
While acknowledging the MSME sector’s undeniable contribution to national progress, the President also addressed persistent challenges, including access to finance, competition from large corporations, technology gaps, raw material shortages, skilled workforce deficits, limited market access, and delayed payments.
The President commended the Government of India’s proactive policy initiatives designed to strengthen the MSME ecosystem. She cited the revised classification criteria for MSMEs, enhanced credit availability, and the mandate for central ministries and public sector enterprises to procure at least 35% of their annual requirements from micro and small enterprises.
The PM Vishwakarma Yojana, aimed at skill development for artisans, was also highlighted as a key government initiative. President Smt.Murmu expressed satisfaction with the rapid increase in registered MSMEs due to these efforts and voiced confidence that the newly launched Online Dispute Resolution Portal for MSMEs would be instrumental in addressing delayed payment issues.
Innovation, the President stressed, is vital for the long-term sustainability of MSMEs. She emphasized that promoting grassroots innovation within the sector can provide affordable and locally relevant solutions utilizing indigenous resources.
Furthermore, President Smt.Murmu expressed delight at the increasing participation of women in the MSME sector in recent years. She reiterated that greater involvement of women in entrepreneurship is crucial for the nation’s holistic development and encouraged young women to establish enterprises and become self-reliant.
In her concluding remarks, the President highlighted a critical aspect of MSME operations: their substantial share of energy consumption and emissions. She called for the urgent promotion of green technology within the MSME sector, noting that this move would not only enhance the sustainability and competitiveness of MSMEs but also contribute significantly to India’s ambitious climate goals.