MSMEs can participate in defence sector: Mishra

Intro: Indian MSMEs can participate in defence sector for products and services, said Kalraj Mishra

 The Dollar Business Bureau

Ministry of Defence has ensured that Indian Micro, Small and Medium Enterprises (MSMEs) can participate in the defence sector for hi-tech products and services, said Kalraj Mishra, Union Minister of Micro, Small and Medium Enterprises.

“MSMEs can look forward to aligning themselves into the supply chains of Indian and international defence majors,” the Minister said while inaugurating a seminar organised by ASSOCHAM on Friday.

The minister informed that from the month of April 2015, all PSUs and departments of central government have been given directives to source minimum 20% of their products and services requirements from MSMEs. “This move will allow the small startups to participate in the 20% mandatory public procurement,” he added.

Mishra also stated that direct investment in small and medium enterprises helps in the sustainable economic development. Investment in SMEs encourages promising businesses to drive socio-economic growth and entrepreneurship development in local communities and markets. If implemented properly and sustainably, such type of investment can also bring significant returns for investors.

The MSME minister added, “By facilitating the growth of these enterprises through direct access to risk capital and assistance in business, we can empower these small enterprises to overcome the barriers to their growth. Thus, this can lead to a higher production of value-added products and services for both national and international customers, as well as accelerate the social development of the surrounding society.”

Also in Mishra’s word, the ministry of MSMEs’ focus is two-fold: to create entrepreneurship and a mindset of entrepreneurship, so that number of people become entrepreneurs and to generate employment.

The ministry of skill development has made several announcements, whereas our ministry has already planned some specific schemes. One of our schemes is doshmukt nirman, meaning “zero defects, zero effect”, informed the Union Minister. Through this scheme, we are able to produce quality products and for that we are also providing training to the people, concluded Mishra.

 

The Dollar Business Bureau - Apr 23, 2016 12:00 IST
 
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