#NationalSmallIndustryDay #IndianEntrepreneurship #MSMEContribution
Every year on August 30, India pays homage to the powerhouse of its economy – the small industries. National Small Industry Day is more than just a date; it’s a tribute to the relentless spirit of these enterprises that contribute a whopping 40 percent to the nation’s gross industrial value.
Pioneering Growth: Tracing the Evolution
The roots of National Small Industry Day goes back to August 2000 when the Indian Government unveiled a comprehensive policy package for small-scale industries, marking a pivotal moment in their recognition and upliftment. Ever since then, every August 30 has been celebrated as a testament to the indomitable spirit of these industries.
A day of celebrations & acknowledgments
The inaugural National Small Industry Day, observed in 2001, set a precedent. With a grand convention in New Delhi, entrepreneurs in the small-scale industry were brought together. The event not only honored their efforts, but also provided a platform for open discussions and deliberations.
Nurturing the backbone of Indian Economy
National Small Industry Day isn’t just a celebration; it’s a call for fostering an ecosystem where Micro, Small, and Medium Enterprises (MSMEs) can flourish. These enterprises constitute a vital part of the economic value chain, with the government leaving no stone unturned to enhance their efficiency.
Empowering through Entrepreneurship: The Role of Women
While celebrating these enterprises, it’s essential to recognize the remarkable role of women entrepreneurs who are steadily reshaping the landscape. Despite facing gender biases and financial constraints, women are proving their mettle in the business world.
From Jobs to Empowerment: The Potential of Female Entrepreneurship
A report by Google and Bain & Company suggests that female entrepreneurs could create 150-170 million jobs in India by 2030. This is especially crucial as it coincides with a period when India’s Female Labor Force Participation Rate (FLFPR) is regrettably low.
In a country where women’s participation in the labor force has seen a decline, women entrepreneurs are lighting the way. As India seeks to enhance its economic fabric, their contributions are both invaluable and inspiring.
#WomenEntrepreneurs #EmpowermentThroughEnterprise #IndianEconomicGrowth
#MSMEContribution #SmallIndustries
Avtar Madan
Himanshu
Shree Lahiri
