Centre Targets Increase in MSME Exports

Nitin Gadkari asks Flipkart parent Walmart’s management handloom, handicraft, and village industries as Centre targets increase in MSME exports.

Centre Targets to Increase MSMEs Contribution to GDP

In a webinar hosted by Walmart, Union Minister of MSMEs, Nitin Gadkari, has set a target of adding 50 million jobs to small enterprises and increasing their contribution to GDP from 30% to 50%. Further, he mentioned the importance of increasing exports and decreasing their costs for a speedier revival. He added that MSMEs must become a part of the global supply chain.

‘Vriddhi’ Program by Walmart

The retail company has launched ‘Vriddhi’, a supplier development program for aiding MSMEs in growth. The program will train and mentor small businesses. Also, it will offer technological tools to help them expand their business. Swasti, a not-for-profit social organization, is the program’s knowledge partner. Also, the co-founder of Swasti said that the program would fast track the growth of micro and small enterprises. Besides, it will ensure their longevity.

Vriddhi will first provide access to all-digital e-institute to MSMEs of Panipat, Sonipat, and Kundli. The companies will be able to access through Mobile App in both English and Hindi. These areas have a rich entrepreneurial heritage and a skilled workforce and are hubs of textile, steel, and kitchenware production. Judith McKenna Walmart International’s president and the chief executive officer said that the company would provide an open marketplace to MSMEs for selling their products.

The Vriddhi program was launched in December 2019 with a target of supporting 50,000 MSMEs.

MSMEs in the Defense Sector

Defense Secretary Ajay Kumar, at a virtual meet for launching defense activities through the Codissia Defense Innovation and Atal Incubation Centre, said that defense has vast opportunities for small businesses. Also, he mentioned that the government is planning to double the number of MSMEs in the defense and aerospace sectors in the coming four to five years. Further, he urged MSMEs to provide high-quality products. Also, he signified the importance of bringing down the cost of benchmark testing and certification procedure. Additionally, he suggested that Codissia (Coimbatore District Small Industries Association) must partner with government to identify areas of indigenization.

In all, the government is looking to enhance MSMEs growth by increasing their share in exports.

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