Prime Minister Narendra Modi has stated that India is capable of playing the significant role in providing strength to world economy that is facing slowdown. He said that at a time when world economy was facing slowdown like the one witnessed in 2008, India's economy was strong and was giving strength to world economy.
He also highlighted that Micro Small and Medium Enterprises (MSME) was vital for India’s economy and asked the small & medium industrialists to look beyond Indian markets and said that their focus should be to espouse global standard in quality control, and make their presence felt in international markets.. Modi added that despite two earlier years when there was drought and when agriculture production dropped considerably, it was the manufacturing sector, especially MSMEs, which ensured that country had a steady economic growth rate. He said that the central government was working to give boost to small and medium enterprises
He also encouraged small businesses to make products with ZED (zero defect & zero effect) on environment so it will help to improve the brand image of the country and urged entrepreneurs that they participate in ZED movement. Modi also launched ZED Certification Scheme for MSME and SC/ST Hub to provide support to entrepreneurs from the community. The idea behind the ZED scheme is to spur competition among small businesses and help them attain recognition in the international market.