Decoding Budget 2023- Advantage MSME
MSME Development Forum inviting you to a scheduled Zoom meeting.
Topic: DECODING BUDGET 2023 – ADVANTAGE MSME
Time: Feb 9, 2023 04:00 PM India
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Our Chairman Mr Rajnish Goenka and MSME Development Forum team was at the 16th Meeting of National Board for MSME. We really appreciate the efforts of Shri Giriraj Singh and Ministry of Micro, Small and Medium Enterprises and look forward to contributing to the implementation of a road map for reforms, including a comprehensive policy for reforms.
It gives us lot of pleasure to see the Government of Uttar Pradesh and the Ministry of Micro, Small and Medium Enterprises, Government of India came together to put together such a great show.
At the event, our chairman, Mr Rajnish Goenka raised some concerns that MSMEs in India have and we hope they are addressed. We are a nation of entrepreneurs and Udyamis and we need to take the people back to being Job Creators from Job Seekers.
Watch the full speech here:
The Atal innovation Mission (AIM) has put out a challenge which grants up to 1 crore to the winner. This challenge has been launched under NITI Aayog. Not only will this participant get the monetary grant but also mentorship will be provided to him.
“Under the Atal New India Challenge, which shall be run in collaboration with five ministries, AIM will invite prospective innovators/MSMEs/start-ups to design market-ready products, using cutting edge technologies or prototypes across 17 identified focus areas such as Climate Smart Agriculture, Smart Mobility, Predictive Maintenance of Rolling Stock, Waste Management etc,”, an official statement quoted.
Applicants will be judged on three steps i.e, capability, intent and potential to productize technologies. This grant will also be supplemented by mentoring, handholding, incubating and other support which will be required at the further stages of the deployment of the product.
The event will not only give opportunity to various exhibitors to showcase their skills and innovations but also give opportunity to visitors to find new business opportunities, attend speaker sessions and startup fest. Further the forum will shed light on various challenges being faced by small as well as medium entrepreneurs via different sessions.
The expo will help aspiring entrepreneurs, businesses and MNCs in establishing global connect, promoting their businesses, networking with the right partners and spreading awareness around entrepreneurship in the country. Further this expo will help new entrepreneurs in identifying new markets for growth and expansion. The event will also witness participation from Union and State Ministers as well as other stakeholders like budding entrepreneurs, corporate, innovators, banks, PSUs, businessman, industries, investors and many more including international delegates.
The MSME sector demonstrates the entrepreneurship spirit of India. These billionaires have also been born out of these MSMEs; they did not evolve overnight. May it be the recent case of Walmart taking over Flipkart or the other companies as Zomato and Redbus acquiring a platform for themselves, all of them started from the bottom.
With the government creating the more suitable environment for MSMEs in India, the rank will go high in the years to come.
Ministries of MSME and AYUSH today joined hands for developing enterprises in the traditional medicine sector.
“The memorandum of understanding (MoU) will create synergies through the institutions and schemes of both ministries for the development of AYUSH enterprises in the country. The objective of this partnership is to position India as a world leader in Holistic Healthcare,” an official statement said.
Under the partnership, the two ministries will organise regional workshops for entrepreneurship development. The MSME ministry will frame new schemes for AYUSH industries to avail benefits of lender to small industries – SIDBI.
AYUSH industry includes the Ayurveda, Unani, Siddha and Homeopathy drug manufacturing units as well as healthcare delivery centres in public and private sectors and are essentially dominated by MSMEs.
“The domestic market for AYUSH sector has been increasing steadily over the past decade. There is also an acceptance of traditional medicines worldwide. Therefore, export of AYUSH products like food supplements, pharmaceuticals and herbal extracts has increased significantly.
“In order to benefit from this the ministries of MSME and AYUSH have agreed to join hands for developing enterprises in this sector,” the statement said.
