SME Times is powered by   
Search News
Just in:   • Global cues push equity markets higher, auto, IT stocks rise  • Nikki Haley praises India for 'not backing down' against China  • 'New definition to boost credit flow to MSMEs'  • Vedanta to be excluded from Nifty50 due to delisting  • Shah meets CMs of Delhi, Haryana, UP over unified Covid19 strategy 
Last updated: 29 Jun, 2020  

msme-THMB-2010.jpg Report calls for structural changes to revitalise MSMEs

MSME.9.jpg
   Top Stories
» 'New definition to boost credit flow to MSMEs'
» Shah meets CMs of Delhi, Haryana, UP over unified Covid19 strategy
» Auto sales pick up in June
» Post COVID support required to electric vehicles: FICCI
» $750 mn World Bank loan for covid-hit MSMEs
SMET Times News Bureau | 29 Jun, 2020
Against the dramatic slowdown of the Indian economy triggered by COVID-19 pandemic, and the border disputes with China having far reaching consequences on trade and investments, the best, and possibly the only, option available to India today, is to consolidate and strengthen the decentralized manufacturing system of the country, says India Micro, Small and Medium Enterprise Report.

The new report 2020 (MSMER-2020) was prepared by the ISED Small Enterprise Observatory(ISED-SEO), and brought out by the Institute of Small Enterprises and Development(ISED), based in Kochi.

The report dwells on critical areas of concern at the global level, as also in India, such as, fourth industrial revolution, labour market trends under COVID-19, livelihoods and enterprise security, credit delivery, and rural entrepreneurship crisis.

The report also underlines the strategy failures regarding MSME development in the past, both at the national level and in the States.

Entrepreneurship, both in policy and through government schemes, is considered as an employment issue, rather than as a vocation vital for wealth creation and sustainable development. It is more of a game of numbers, rather than a serious exercise in industrialization. Naturally, the MSMEs do not get the respect they deserve in the economy, and in the policy platforms.

P.M. Mathew, director of ISED who edited the report said, hard decisions would be required for rebuilding the MSME system of the country.

"The need of the hour is for an alternative strategic approach focused on entrepreneurship, as a critical national resource besides setting up of a permanent 'National Small Enterprise Commission', mandated with vital roles such as inter-Ministerial co-ordination of knowledge, strategy development and policy co-ordination is required," said Mathew.

MSMER 2020 concludes that, the Keynesian model of solutions under a recessionary situation, as advocated by many, may be useful for the economy as a whole, but not much for the MSMEs.

A selective strategy is more appropriate for them where its components are tailored according to the structure of the industrial system, consisting of various categories such as, vendor units, service enterprises, hard core manufacturing units, and tiny(bottom of the pyramid) enterprises.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 02 Jul, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(3)
» Govt. approves subsidy for 2,221 cold storages(1)
» Social entrepreneurship unique and full of challenges: Hasina Kharbhih(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter