Guwahati: Union micro, small and medium enterprises minister Narayan Tatu Rane on Thursday chaired the North-east MSME conclave in the city, where a number of ministers from north-eastern States and responsible government officials were present. Organized by the MSME ministry, the conclave is expected to promote entrepreneurship and trade opportunities for MSMEs in the land-locked region.
Mentionable is that the MSME sector plays a significant role in terms of job creation and expanding manufacturing bases. Currently, it consists of over six crore units employing over 11 crore people and with over 30% of contribution to GDP (gross domestic product) and more than 49% of overall exports from Bharat.
Addressing the stakeholders, Rane commented that India can develop only when the NE is developed and his ministry has placed a special emphasis on the development of MSMEs in the region to bring in economic prosperity and propel their contribution to the nation’s sustainable growth.
Stating that the correlation between the Indian economy and the MSME sector’s performance has never been more aligned, the minister added that it would continue to grow even closer in the coming years. Given the impact of MSMEs on our economy, it is imperative that push is given to promote entrepreneurship amongst the youth and allow them to play an integral role, he stated.
Speaking on the occasion, Assam industries & commerce minister Chandra Mohan Patowary described that the MSMEs have played a key role in shaping the socio-economic condition of the State. Surrounded by an international border of 5,182 km, the NE serves as India’s gateway to the East. With its geographical advantage, rich mineral and agro-horticulture resources and access to the ASEAN market, the region becomes the fulcrum of Act East Policy.
He elaborated that in order to create a business-friendly environment, the State government introduced the Assam MSME (Facilitation of Establishment and Operation) Act, 2020, under which MSMEs can be established without obtaining any noc/permission/clearance (except fire and environment) and operate for three years. Other attending ministers emphasized on building a robust infrastructure providing market linkages for the MSME players in the region.
Union minister Narayan Tatu Rane chairs MSME conclave, NE becomes fulcrum of Act East Policy
