The government is giving a big push to IPR education by including it in school curricula, and so far over 4 lakh students have been covered under this initiative, he said.
Latest export numbers in key sectors indicate a sluggish demand for made-in-India items globally.
Currently, agriculture is not seen by the rural youth as a very remunerative occupation and the government under its mega plan to double farmers’ income by 2022, wants to change this notion, Singh said.
When it comes to budgetary allocation for the MSME Ministry, it stands at an all-time high of Rs 7,011.29 crore - an increase of 6.99% from the FY 2018-19 figures of Rs 6552.61 crore.
Mehernosh Tata, Head SME Lending, Edelweiss is of the view that Union Budget 2019 recognises the critical role of MSMEs in taking India to $5 trillion economy.
In coming times, Government is to focus on transforming anandata(food cultivator) into urjadata (power generator), she said.
Budget 2019: Access to credit, increased ease of doing business, top demands of tier 2, 3-based MSMEs
Employing over 60 million people and contributing 45% of industrial output and 40% of the country's exports, MSMEs are the critical growth driver of the Indian economy.
Smaller firms' share in Net Value Added (NVA) is a minuscule 7.6% despite them dominating half the economic landscape.
MSMEs operating in the Tier-II and III cities require a push in terms of digital penetration and technology adoption, since it plays a pivotal role in expanding businesses at a much faster pace.
Access to credit, technology adoption, connect with global peers, key for Indian MSMEs growth: WASME
WASME has been consistently working closely with world MSMEs, Central and State Governments in providing opportunities to MSMEs.
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