UN General Assembly while recognizing the importance of micro, small and medium sized enterprises in achieving the global development goals has designated June 27 as the International Day for MSMEs. This day highlights the strong contribution of MSMEs not only in India but worldwide to livelihood, communities and economies which needs for support towards success of MSMEs said Mr. Vijay G. Kalantri, Vice Chairman, World Trade Centre Mumbai President, All India Association of Industries (AIAI) while speaking at the training programme for MSME’s.
Mr. Kalantri said that the theme of MSME Day is “Small Business, Big impact. MSMEs play a pivotal role in the overall industrial development of the country. They have been the significant contributor to the national income. They not only help in providing employment opportunities to millions of people across the country, they create a sound entrepreneurial base in the economy by developing and nurturing the talents, skills etc. of small and medium scale entrepreneurs.
Mr. Kalantri further added that MSMEs make up over 90% of the world’s economy. It accounts more than 70% of all jobs worldwide. There are 500 million MSME’s in the world today. In India, SMEs accounted for 80% of Jobs created every year, while in the US almost 50% employees work for a SME and in China the corresponding figure is almost 79%.
MSME produces over 8500 products, 60% of employment, 40% of exports and 45% to GDP added Mr. Kalantri.
The International Trade Centre (ITC) and the United National Department of Economic and Social Affairs (DESA) are joining with other partners to observe 27th June as MSME day, which mark with events like : Research Presentations, Policy Discussions, Practitioners Workshops, Business Owner Testimonials and communication activities which we also have initiated stated Mr. Kalantri.