Made in India, by small enterprises

Abstract

Prime Minister Narendra Modi’s ‘Make in India’ campaign is creating waves both in India and abroad. Given the government’s intention to boost domestic manufacturing and create new jobs, its proposal to introduce a new policy for Micro, Small and Medium Enterprises (MSMEs) deserves a closer look. While Mr. Modi’s invitation to international companies to make investments has been receiving a lot of attention, the government’s close interaction with industry associations from different regions and sectors within India to discuss specific problems inhibiting domestic enterprises deserves equal consideration.

India’s MSME sector has recorded more than 10 per cent growth in recent years despite the economic slowdown. MSMEs contribute nearly eight per cent to the national GDP, employing over eight crore people in nearly four crore enterprises and accounting for 45 per cent of manufactured output and 40 per cent of exports from India. Thus, the focus of the government on MSMEs at this juncture is justified given their potential for providing growth and employment. Read more at: https://www.thehindu.com/opinion/op-ed/made-in-india-by-small-enterprises/article6446662.ece