8th International India MSME Expo summit

4 years ago Micro, Small & Medium Enterprises development forum (MSME-DF) took up the challenge to swing this trend. Mr Rajnish Goenka, Chairman, MSME-DF identified the hurdles in the MSME sector. It was clear that this sector was being discriminated and was also being ignored. After a careful & planned study he created a non-political & no profitable platform for the development of MSMEs called MSME-Development Forum. After Modi came into power things became to change swiftly. Special focus was being given to this sector, Startups were encouraged and hence economy was getting benefitted. In spite of the snags that the MSME sector faces, it still contributes 29% in the Country's GDP. The sector also provides 32% employment in manufacturing and 35% employment opportunities in Trade for the nation. The Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. It contributes significantly in the economic and social development of the country by fostering entrepreneurship and generating largest employment opportunities at comparatively lower capital cost, next only to agriculture. MSMEs are complementary to large industries as ancillary units and this sector contributes significantly in the inclusive industrial development of the country. The MSMEs are widening their domain across sectors of the economy, producing diverse range of products and services to meet demands of domestic as well as global markets. In this country of 40 lacs are generated whereas the demand of these jobs are three fold than this. The only solution to this is self-employment and Entrepreneurship. MSME-DF is working on these issues of transforming job seekers to job creators. The Forum's effort is to make new India –an entrepreneurial country, making it worlds manufacturing & sourcing hub, creating Agripreneurs for rural transformation & thus controlling the migration from villages to cities. In the 21st century, history seems to repeat itself. India, like the Phoenix, is rising once again. India, the elephant, grew slowly and could not keep pace with the prowling tigers. Then came a big change; one fine day, the world woke up to see that the elephant was not just large and grey, but had developed the tiger's stripes.