Elevating MSMEs: The Backbone of India's Economy
Union Minister Jitan Ram Manjhi emphasizes the importance of the MSME sector in combating unemployment in India. Addressing the PM Vishwakarma – National SC-ST Hub Conclave in Odisha, he highlights the sector's contribution to economic development and praises initiatives like the PM Vishwakarma Scheme.
- Country:
- India
Union Minister Jitan Ram Manjhi underscored the critical role of the Micro, Small & Medium Enterprises (MSME) sector in addressing unemployment concerns in India. Speaking at the PM Vishwakarma – National SC-ST Hub Conclave in Mayurbhanj, Manjhi highlighted the sector's capability to provide jobs for the remaining 75% of the workforce, despite big industries employing a quarter of it.
Manjhi praised President Droupadi Murmu for her guidance and highlighted Prime Minister Narendra Modi's vision of India as a developed nation by 2027-28. He noted that the MSME sector is thriving in Odisha, aligning with the country's economic aspirations.
The PM Vishwakarma Scheme, launched in 2023, bolsters traditional artisans, while the National SC-ST Hub supports SC/ST entrepreneurs. Together, these programs aim to elevate India's MSME sector, which comprises over 6.25 crore enterprises and significantly contributes to the GDP and exports.
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