President Inaugurates Udyam Sangam-2018 To Mark UN SME Day

President of India, Ram NathKovind, the MSME sector is leveraging the demographic dividend of the country and promoting inclusive growth in rural and backward areas. MSME sector accounts for around60% employment in India. There is 6.5 crore MSME units across the country employing over 11 crore people and contributing over 10% growth which is higher than heavy industrial units. The President inaugurated the Udyam Sangam-2018 in New Delhi 27 June 2018. Referring to UdyamSakhi portal of the MSME Ministry, he said that it will empower women and weaker sections by providing training to 80 lakh women.

The President appreciated the work done by ArunachalamMuruganatham in promoting women’s hygiene by manufacturing low-cost sanitary napkins. Entrepreneurs in more than 100 countries are now trying to replicate this. A film documenting his struggle has been made. The President desired that many more such films documenting the contributions of innovative Micro and Small Entrepreneurs should be produced. The President of India launched the Solar Charkha Mission 27 June 2018 which will cover 50 clusters and every cluster will employ 400 to 2000 artisans. The Mission has been approved by the Government of India for which the MSME Ministry will disburse subsidy of Rs. 550 crores to the artisans.

The President also referred to the special relief given to the MSME sector under Insolvency and Bankruptcy Code which will allow promoters to bid for an enterprise undergoing Corporate Insolvency Resolution Process. Shri Ram NathKovind mentioned that micro and small units are producing parts for Indian Space Research Organization (ISRO) and Tejas fighter aircraft. He expressed hope that deliberations at the conclave today will throw new solutions so that micro and small entrepreneurs may be able to occupy a space at the global level.

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