Ease of Doing Business for MSMEs: The ‘Make in India’ strategy has been adopted by the Prime Minister to facilitate investment, foster innovation, enhance skill development, encourage employment, and build a sustainable eco-system for the MSME sector in India.
Ease of Doing Business for MSMEs: They say that every crisis brings with itself an opportunity. Likewise, the Covid-19 pandemic brought with itself an opportunity for India, that was identified and announced by the Prime Minister of India as ‘Atmanirbhar Bharat’ or making India self-reliant. When ‘Make in India’ as a concept was announced in 2014, it was successful in igniting the idea and now is an opportune time to execute that idea. But, what does ‘Atmanirbhar Bharat’ really mean? What does it imply for the future? More so, what does it mean for the MSME sector and how the sector can leverage it?
The MSME sector is the most vibrant and dynamic industrial sector contributing about 40 per cent to the GDP and significantly to the exports of the country. Multiple government policies and decisions emphasize that the MSME sector will act as the bedrock for economic revival. The idea behind ‘Make in India’ is about decentralised localism that takes pride in indigenous brands, emphasises resilience and adaptability, and encourages local capacity-building and employability. This will encourage the idea of making in India for the MSME industry and help amplify their presence across sectors.
Source: Financial Express
