Slowdown could act as 'growth stimulant' to SMEs: Mooshahary
The ongoing economic slowdown could act a 'growth stimulant' for the Small and Medium Enterprises (SME)s, which in turn would help in creation of Business Hubs in rural areas, Meghalaya Governor R S Mooshahary on Tuesday said.
By PTI |
KOCHI: The ongoing economic slowdown could act a 'growth stimulant' for the Small and Medium Enterprises (SME)s, which in turn would help in creation of Business Hubs in rural areas, Meghalaya Governor R S Mooshahary on Tuesday said.
The SMEs can lead in the generation of rural business hubs through the concept of Public-Private-Panchayat Partnership, which the Ministry of Panchayati Raj is keen on promoting, he said in his inaugural address at the third regional conclave on 'Tiding Over Turbulent Times-Road ahead for SMEs', organised by Kerala Management Association, Konrad Adenauer Foundation (KAF) and Madras Management Association (MMA).
The rural hubs can inspire rural entrepreneural awareness which will energise the youth to step forward in self relianace and not be dependant on whitecollar jobs, he said.
Thanks to faulty educational practices, many youths were not motivated to set up own business units but become easy prey to the lure of making money by means of illegal activities.
Parallel industries of kidnapping, abduction, extortion have sprung up in many places and proving to be low risk high return ventures, he said adding unemployed youths were also given jobs by insurgent and terrorist outfits.
There was need to create millions of workplaces in rural and semi-urban sreas where the unemployed youth can find avenues to grow, he said.
The four million SMEs in the country had created 20 mn jobs. Micro, small and medium enterprises are the 'lifeblood' of rural economy and the entrepreneurs must be able to establish linkages among them to avoid large scale migration to cities and towns, he said.
The SMEs can lead in the generation of rural business hubs through the concept of Public-Private-Panchayat Partnership, which the Ministry of Panchayati Raj is keen on promoting, he said in his inaugural address at the third regional conclave on 'Tiding Over Turbulent Times-Road ahead for SMEs', organised by Kerala Management Association, Konrad Adenauer Foundation (KAF) and Madras Management Association (MMA).
The rural hubs can inspire rural entrepreneural awareness which will energise the youth to step forward in self relianace and not be dependant on whitecollar jobs, he said.
Thanks to faulty educational practices, many youths were not motivated to set up own business units but become easy prey to the lure of making money by means of illegal activities.
Parallel industries of kidnapping, abduction, extortion have sprung up in many places and proving to be low risk high return ventures, he said adding unemployed youths were also given jobs by insurgent and terrorist outfits.
There was need to create millions of workplaces in rural and semi-urban sreas where the unemployed youth can find avenues to grow, he said.
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The four million SMEs in the country had created 20 mn jobs. Micro, small and medium enterprises are the 'lifeblood' of rural economy and the entrepreneurs must be able to establish linkages among them to avoid large scale migration to cities and towns, he said.
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