Strengthening the MSME sector is the way forward for an independent nation: Ashwath Narayan 

Isha Rautela | Updated on: Jun 27, 2022
Ashwath Narayan CN, Karnataka Minister of IT/Bio-Technology, Higher Education, Skill Development, Science, and Technology

Ashwath Narayan CN, Karnataka Minister of IT/Bio-Technology, Higher Education, Skill Development, Science, and Technology

‘For people to become more productive convergence is not good, instead, divergence is better’

Bengaluru, June 27

Ashwath Narayan CN, Karanataka Minister for Higher Education; IT & Bio-Technology, Science & Technology; Skill Development, Entrepreneurship & Livelihood, said the way forward to building an independent nation is through strengthening the MSME sector. He was addressing the MSME Growth Conclave on International MSME Day.

“To make our country self-reliant, self-sufficient, and to address all the challenges, MSMEs are needed. For people to become more productive convergence is not good, instead, divergence is better,” he added.

Although 30 per cent of the country’s GDP comes from the MSME sector, the sector faces many challenges. On the challenges front, Narayan said there is a need to bring more technology into the sector, along with more avenues to invest, with a special focus on Research and Development to ensure a steadfast growth of the sector. Also, there is a need for improving the country’s supply chain management to shield itself from external shocks, he added.

Need for better manufacturing

“In India, start-ups are growing in a big way, where each and every startup has many international products. All these products need manufacturers, this is a huge opportunity for any manufacturer,” said Narayan.

In regards to developing the manufacturing sector in Karnataka, he said the Government of Karnataka is building a dedicated industrial area, on a model similar to that of the electronic city in Bengaluru, to address all the constraints of the establishment of manufacturing units. The government is doing its best to provide the right environment for the industries to grow and will continue to do so, “whatever you want, we are willing to supply,” he added.

As a tribute to the contribution of small businesses and entrepreneurs, The Hindu BusinessLine hosted ‘MSME Growth Conclave’ on June 27, in Bengaluru, to commemorate the International MSME Day. The conclave was powered by Dell Technologies in association with Canara Bank. The event discussed how MSMEs can contribute more to the India growth story and how they can re-imagine their businesses by leveraging technology and innovation.

Published on June 27, 2022
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