SHRI SOM PRAKASH, MoS, COMMERCE & INDUSTRY AT THE CII PUNJAB ANNUAL SESSION 2022-23
Face2News/Chandigarh
The State Annual Meeting, a thought-provoking Session on the theme ‘MSMEs as Growth Engines of Punjab: Making the shift from Local to Global Competitiveness’ was presided over by Shri Som Parkash, Hon’ble Minister of State – Commerce & Industry, Government of India as the Chief Guest.
Speaking about the contribution of MSMEs at the national level, Shri Som Parkash, Hon’ble Minister of State – Commerce & Industry, Government of India said, “India has a large 7.9 million registered Micro, Small and Medium Enterprises (MSMEs) base. The MSME Industry segment contributes 33% of the Country’s GDP and generates over 120 million jobs across industries and regions in the country contributing towards wealth creation at the grassroot level”.
“In FY22 alone, 8.59 lakh women-led MSMEs got registered on Udyam portal which is 17% of the total MSME registration. As many as 63.4 million units contribute 6.11% of the manufacturing GDP and 24.63% of services GDP”, he added.Talking about the initiatives taken by the state government, Mr Kamal Kishore Yadav, CEO – Punjab Bureau of Investment Promotion &Commissioner – Excise & Taxation, Punjab mentioned “The Industry department is making efforts to make our MSMEs more global, competitive and financially stable so that our MSME sector can contribute more in our economy”.
Talking about the initiatives taken by the state government, Mr Kamal Kishore Yadav, CEO – Punjab Bureau of Investment Promotion &Commissioner – Excise & Taxation, Punjab mentioned “The Industry department is making efforts to make our MSMEs more global, competitive and financially stable so that our MSME sector can contribute more in our economy”.
He further mentioned that the total investment in last one year was around INR 40,000 crores in the form of new investment, around 60% of which is from MSME sector.
Mr Dilip Kumar, Principal Secretary – Investment Promotion &Industries & Commerce, Government of Punjab in his address to the MSMEs said “We are in a circular economy, things are moving. So, we need to think and that is how we will grow. There are many policies and incentives that need to be leveraged.”
The discussion focused on how MSMEs in Punjab can make the shift from local to global competitiveness, explore the challenges they face and identify the solutions required for promoting the internationalization of MSMEs in Punjab, which will drive inclusive economic growth and increase employment opportunities.