Innovative small firms to drive growth in India: Govt
Government on Tuesday said innovation by medium and small enterprises, which contribute 45 per cent to India's industrial production, will drive transformation in the economy in the long run.
By PTI |
NEW DELHI: Government on Tuesday said innovation by medium and small enterprises, which contribute 45 per cent to India's industrial production, will drive transformation in the economy in the long run.
In this connection, the government has assisted more than 15,000 companies in obtaining ISO certification, Additional Secretary in the Ministry of Micro, Small and Medium Enterprises (MSMEs) Jawahar Sircar said at a CII seminar.
The National Manufacturing Competitiveness Programme has 10 components, of which six concentrate on quality, he added. Sircar said the MSMEs would contribute extensively to the growth of the Indian economy.
There are currently around 13 million MSMEs in India with a total size of 140 billion dollars, employing over 31 million people.
He said technological upgrade, skill development and meeting financial requirements are three essential tools for enhancing competitiveness and profitability of small industries.
In this connection, the government has assisted more than 15,000 companies in obtaining ISO certification, Additional Secretary in the Ministry of Micro, Small and Medium Enterprises (MSMEs) Jawahar Sircar said at a CII seminar.
The National Manufacturing Competitiveness Programme has 10 components, of which six concentrate on quality, he added. Sircar said the MSMEs would contribute extensively to the growth of the Indian economy.
There are currently around 13 million MSMEs in India with a total size of 140 billion dollars, employing over 31 million people.
He said technological upgrade, skill development and meeting financial requirements are three essential tools for enhancing competitiveness and profitability of small industries.
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