At the Assocham Bharat @100 Summit held in New Delhi, Union Minister of Commerce & Industry Piyush Goyal highlighted the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) in India’s industrial growth. He expressed the government’s readiness to allocate dedicated spaces for MSMEs within the 20 upcoming townships across the country. To foster a supportive environment, Goyal stressed that land in industrial parks would be provided to MSMEs at reduced rates. He also noted ongoing governmental efforts to streamline processes, ease compliance requirements, and decriminalize certain regulations to make business operations smoother for MSMEs.
Goyal emphasized that India’s developmental aspirations must align with environmental sustainability. He pointed out that developing nations often suffer from the pollution caused by developed countries outsourcing their manufacturing activities. Reaffirming India’s commitment to sustainability, he discussed the balance between industrial progress and ecological preservation.
The minister praised various government welfare programs, such as initiatives for food security, water access, electricity, and digital infrastructure, which are available to all citizens without discrimination. He urged for a greater focus on skill development, noting that the government has set aside $23.61 billion for this purpose. He encouraged academic institutions to integrate entrepreneurial education into their programs to inspire students.
Goyal concluded by motivating India’s youth to pursue entrepreneurship and take calculated risks to contribute to the nation’s economic growth. According to him, bold decisions by the younger generation will be crucial in transforming India into a developed nation.
