From UPSC perspective, the following things are important:
Prelims level: Udyam Sangam, Sampark Portal
Mains level: Various initiatives for MSME developmemt
- The President of India inaugurated the Udyam Sangam-2018, being organised by the Ministry of Micro, Small & Medium Enterprises (MSME) to celebrate the 2nd United Nations Micro, Small and Medium-sized Enterprises Day (27th June)
- On this occasion, he also launched the Solar Charkha and MSME Sampark Portal.
- The Udyam Sangam-2018 is an important effort in developing effective eco-systems for MSME sector.
- The Sangam will provide representatives of finance, training and educational institutions, industry, media, state governments and NGOs an opportunity to engage in extensive discussions to strengthen the eco-systems in this sector.
- ‘Sampark Portal’ is a digital platform to connect five lakh job seekers with recruiters
- It will be very useful in developing skill-pool and in enabling trained youth to know about different employment opportunities.
India’s MSME Sector
- MSME sector is called the backbone of our economy.
- This sector is the second largest employment provider after the agricultural sector.
- Our demographic dividend shall be most gainfully utilized in this very sector.
- This sector generates more employment opportunities at a lower cost of capital.
- And the most important thing about this sector is that it creates jobs in rural and backward areas.
- This sector could help in achieving the goal of inclusive growth through empowerment of weaker sections and decentralization of development.