President calls for growth with equity;wants boost to MSMEs

NEW DELHI: President Pratibha Devisingh Patil today stressed the need for "growth with equity" which can be enabled by encouraging micro,small and medium enterprises ( MSMEs)- the second largest employer after agriculture.

"To meet the objective of growth with equity, it is essential that there is an enabling eco-system for such enterprises (MSMEs)to grow and prosper," the President said here, after giving away national awards for excellence to the medium, small and tiny units.

She also emphasised on interface between the corporate India, including the MSMEs, and the farmers for ensuring rural prosperity.

"I have on several occasions called on the corporate sector,...to seriously engage with agriculturists and farmers... Farmers should be looked at as agri-preneurs who interact with business units to work out win-win options," Patil said.

She said India's demographic dividend needs to be nurtured to create a vast pool of skilled manpower as a vital resource for all economic endeavours. MSMEs would be in great need of a talent pool of young people, both as potential entrepreneurs and skilled workers.

"It should be our mission to make India a 'Talent Hub' for the world through quality training that meets global standards and fulfill the requirements of the 21st century," Patil said.

MSMEs with 26 million units provide jobs to 60 million people and contribute 40 per cent to the country's manufacturing sector. They also account for 45 per cent of India's total exports of $ 246 billion (fiscal,2010-11).