Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.