3 Point Agenda to support MSMEs by MSME Ministry

May 03: On the First of May 2020, Shri Arvind Kumar Sharma assumed charge as the Secretary of Ministry of Micro, Small and Medium Enterprises (MSME). In his opening talk, he set a 3 point agenda to support MSMEs which are currently in a distress due to COVID19.

  1. Protect the backbone of the Units and the Entrepreneurs of MSME
  2. MSMEs sail through this time and jobs and livelihoods are not affected beyond a point
  3. Use the Crisis as an opportunity to focus on finding new opportunities in National and International markets

He mentioned that once the urgent situation ends, he shall embark on one another important mission to Create Global Champion companies from MSMEs. He wishes to have Apple, Google and Microsoft kind of companies in India. The country’s economy is as robust as its companies. And to achieve this each one of us has 2 tasks one is on an urgent basis to save a unit from being closed i.e. how to save a job from being lost and the other is to create new units every day and new jobs and new job creators every hour.

According to him creating successful MSME is a two-way process: One is to weave them around a big company i.e. ancillary units using Top-down process and the Second is a bottom-up approach which is to create and nurture all MSMEs and promote those who have the potential to become a big company.

The full speech is available below.