CII report on MSME calls for an opportunity framework built around five growth enabling pillars comprising: infrastructure, regulatory framework, funding, performance incentives and skill India. The report “The New Wave Indian MSME: An Action Agenda for Growth” was released by Shri Madhav Lal, Secretary, MSME at the Global SME Business Summit 2014 in New Delhi. This report suggests an alternative framework for the definition of MSMEs. This report outlines relevant recommendations It also contains global best practises and is in line with the government’s vision of policy incentives for the MSME sector in India.”The MSME segment has the potential to emerge as a backbone for Indian economy and act as engine for growth given the right set of support and enabling framework”, says the CII study.
Inaugurating the Summit, Shri Madhav Lal spoke about the dual role that the Ministry of MSME plays in assisting MSMEs in terms of providing them with a supportive framework through policy advocacy and by bringing about institutional reforms in areas of policy vacuum including taxation reform, regulatory systems’ reforms, finance provisioning reforms, etc.
Outlining the various initiatives of Modi Government including Make in India, Digital India and Skill India, Shri Lal illustrated the need for identifying important verticals within this sector with differing interests with regards to government’s policy interventions and highlighted the merits of adopting a focused approach to benefit these verticals.
Shri R C Bhargava, Chairman, Maruti Suzuki India Limited in his address narrated the role played by MSMEs in assisting Maruti Suzuki in its journey to become the biggest car manufacturing company. He spoke about the diversity of opportunities evolving in the auto components sector for MSMEs. He discussed the role played by Maruti in cluster development, skill formation, etc.
The India SME expo is showcasing 50 national as well as international SMEs, their products and services and a special National Vendor Development Program with leading CPSEs in India to enable Public Sector Enterprises to identify suitable vendors in the MSE category.