Punjab Chief Minister Bhagwant Mann said that Indian economy thrives on MSMEs which symbolise the deeply rooted spirit of enterprise.
“MSMEs symbolise the deeply rooted spirit of enterprise, on which the Indian economy thrives, and they have evolved into strong powerhouses over the years”, said Mann during the Workshop on MSMEs as a Driver of Export Growth: Strategies, Opportunities, and Challenges, organised today by NITI Aayog, in collaboration with the Government of Punjab and the Confederation of Indian Industry in Chandigarh.
He went on to further state that MSMEs are poised for a remarkable future with low capital requirement, high employment generation capability and potential of promoting sustainable economic growth, shared prosperity, and poverty reduction. Praising Punjab’s historic contributions, he added, “Our state has been a front-runner in every field, whether in the national freedom struggle, making the country self-reliant in food production, or safeguarding our borders.”
The event focused on raising awareness about the pivotal role of MSMEs as export hubs. It also provided a platform for discussing key challenges faced by industries in global expansion, while exploring strategies for internationalisation and fostering collaboration. On the occasion, the Chief Minister and Vice Chairman of NITI Aayog also launched a booklet titled ‘MSMEs as a driver of Export Growth: Punjab- Strategies, Opportunities and Challenges.’
During the inaugural session of the workshop, Suman Bery, Vice Chairman, NITI Aayog, emphasized the importance of supporting MSMEs while acknowledging the challenges they face. “We are committed to nurturing the growth of our MSMEs. But let’s be honest, challenges exist. Our MSMEs often struggle to secure the funding they need to expand and innovate. The shortage of skilled labour is a persistent issue, particularly in sectors like textiles and hand tools. High transportation costs make it difficult for our businesses to compete in price-sensitive markets,” he said. Furthering this sentiment, Ramesh Chand, Member, NITI Aayog, highlighted the significance of MSMEs in Punjab’s economy and shared, “Punjab’s Micro, Small, and Medium Enterprises (MSME) sector is not just a cornerstone of state’s economy; it is a testament to the resilience and entrepreneurial spirit that defines Punjab. It is crucial to harness the full potential of MSMEs to position Punjab as a leading hub for exports. The event, focusing on ‘MSME as a Driver of Export Growth: Strategies, Opportunities, and Challenges,’ encapsulates the essence of Punjab in strategizing and visioning the transformation of the state’s economic landscape.”
Sanjeet Singh, Senior Advisor, NITI Aayog, stressed the need for stronger industry-government collaboration and said, “It is essential that we strengthen collaboration between industry stakeholders and policymakers. Our government is committed to providing the necessary support, including access to finance, skill development, and favourable policies, to help MSMEs thrive in the competitive global market.”
The speakers adeptly signified the importance of Punjab’s MSMEs in driving India’s export growth and called for continued efforts to overcome barriers to their international expansion.
