New Delhi, April 23 (IANS). Many important issues related to the industry and startup ecosystem were discussed in the 5th edition of MSME Startup Innovation Summit. During this, PHDCCI General Secretary Ranjit Mehta underlined the rapid progress of the startup and MSME sector in India and appreciated the steps taken by the government.
Speaking to news agency IANS, Ranjit Mehta said that the government has taken many important steps to promote MSMEs and startups. Credit Guarantee Scheme, market access through GeM (Government e-Marketplace) portal and technology hubs created through NSIC and other institutions have provided a strong base to startups.
He told that when ‘Startup India’ was started in 2016, there were about 400 startups in the country. Today this number has increased to more than 1.5 lakh. Due to this rapidly growing ecosystem, India has become the third largest startup hub in the world.
Describing the MSME sector as the backbone of the Indian economy, Mehta said that this sector generates more than 1.1 crore jobs in the country. He said that it is very important to continuously strengthen this sector to achieve the goal of ‘Developed India’.
He emphasized that the government makes policies, but their impact will be visible only if they are implemented properly at the ground level. MSMEs are not limited to big cities only, but are spread up to the district and block levels. Therefore, state governments and local administration will have to jointly support these enterprises.
Mehta further said that for the development of MSME sector, there is a need to run awareness campaigns and create a strong ecosystem in MSME clusters. This will give small industries an opportunity to move forward and they will be able to perform better in the future.
He praised the organizers for organizing the summit and said that such programs inspire startups and MSMEs. This sector will become stronger in the coming times and will play an important role in taking India’s economy to new heights.
–IANS
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