Highlighting importance of Micro, Small and Medium Enterprises (MSMEs) in solving various problems such as gap between rich & poor and climate change, Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu has said that MSME will also play a key role in employment generation thus countering jobless growth.
Prabhu highlighted that MSMEs will help in the reduction of Green House Gas emissions, as they are generally closer to markets leading to reduced carbon footprints. He also stressed on the relationship between big enterprises and MSMEs and added that the bigger companies cannot prosper without MSMEs, so there is need to strength linkages between big and small to propel the global economy.
The Minister further noted that new Industrial Policy, which will be announced soon, lays great stress on the role of Self Help Groups (SHGs) and emphasized that MSMEs can take advantage of the Start-up India Program. Besides, he suggested that new networks can be formed among MSMEs of different countries like Africa, Central Asia and Latin America, to promote their ideas at the global level as MSMEs are the crucible of creation of new ideas in the world of business.