Home / Knowledge / News / Textiles / Innovative SMEs to drive Indian economy: CII

Innovative SMEs to drive Indian economy: CII

19
Mar '08
Mr. Jawahar Sircar, Additional Secretary and Development Commissioner (MSME), Ministry of Micro, Small and Medium Enterprises (MSMEs), emphasized the importance of this sector, with a total size of US$140 billion, as the driving force for the long term growth of the Indian economy.

The MSMEs are a vital part of the Indian economy contributing over 45% of the country's industrial production and around 40% of the total exports. Thirteen million MSMEs in India employ over 31 million people.

The government has identified three thrust areas for increasing competitiveness in this area: technology (including quality), skills development and finance.

Of the three, technology and quality were crucial, and he spoke of how companies – more than 15,000 have been assisted in obtaining ISO certification.

He also spoke of the National Manufacturing Competitiveness Programme, which has ten components in various stages of approval. Six of these, he said, concentrate on quality.

Quality and Innovation was also emphasized by Dr Surinder Kapur, Chairman, Manufacturing Innovation Mission, CII and Chairman and Managing Director, Sona Koyo Steering Systems Ltd.

He spoke of CII's efforts to introduce quality and innovation in Indian MSMEs through 'clustering' of companies to learn about these areas.

“In the long term it will be innovative SMEs which will drive transformation. CII has 131 clusters impacting more than a thousand SME's,” he said

In his concluding remarks, Mr. Ramesh Datla, Chairman, CII SME Forum and Managing Director, ELICO Ltd, said, that while the MSMEs have been globally recognized as a priority growth sector for growth and development, there is still a lack of clear developmental agenda and program of action for MSMEs for various reasons.

Any future agenda, he said, needs to encourage the development of SMEs in an environment of increased economic interdependence and open regionalism.

Confederation of Indian Industry


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Jan 2021

Belarus unveils five-year light industry plan

Bellegprom, the light industry concern of the Belarusian ministry of...

Pic: USDA/FAS

Textiles | On 23rd Jan 2021

US cotton exports rise on China demand: USDA report

Despite US cotton production falling 5 million bales from the...

Pic: Shutterstock

Apparel/Garments | On 23rd Jan 2021

Explore new markets for RMG industry: Bangladesh minister

Bangladesh commerce minister Tipu Munshi recently highlighted the...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

The new deal is better than NAFTA for the US textile industry

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Akash Sehgal,

Akash Sehgal

Part of retail and hospitality conglomerate Landmark Group in Dubai,...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


January 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search