State Level Defence MSMEs Conclave on Indigenisation of Critical Defence Components and Materials

FICCI India
প্রকাশিত: May 14, 2023
65 দর্শনসমূহ



State Level Defence MSMEs Conclave on Indigenisation of Critical Defence Components and Materials

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    Growth of MSMEs is critical for fulfilling the national mission

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    MSMEs fulfilling the National Mission



    Witnessing the times when our nation still has goals to make changes to implement and evolve to ensure that the industries keep up with the times. As the world is moving towards industry 4.0, It’s being anticipated that the transition will lead to a reduced role of human power as an operator and pave the way for more interaction opportunities between machines and machines. It’s expected that India will thrive as one of the leading economies in the world over the next decade in light of a positive political and economic scenario. The Micro, Small & Medium Enterprises (MSME) segment has been playing a remarkable role in the emergence of the Indian economy. The development of the MSME segment is extremely critical to fulfill the national mission of financial inclusion and generation of significant levels of employment across all geographical areas across the country.



    Internationally, the MSME segment expansion has shown mixed feedback on various policies and initiatives undertaken by developing and developed economies during their critical economic span. Many developed and developing economies have agreed upon the fact that the MSME segment constitutes the backbone for maintaining growth rates as well as employment generation rate and provides stability during economic downturns. Another highlight remained the rapid advancement in digitization which is driving changes in payment systems in transactions. Mobile phones have provided enormous opportunities for financial development and are anticipated to be a common tool for carrying out various financial transactions. This has opened doors for the financial industry to improve its services by launching internet-based services, such as mobile banking.


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