New Delhi, April 23: The fifth edition of the MSME Startup Innovation Summit brought to light several critical issues related to the industry and startup ecosystem. Ranjit Mehta, Secretary General of PHDCCI, highlighted the rapid progress of startups and the MSME sector in India, praising the government’s initiatives.
In an interview with a news agency, Mehta stated that the government has implemented significant measures to support MSMEs and startups. The Credit Guarantee Scheme, access to markets through the Government e-Marketplace (GEM) portal, and technology hubs established through NSIC and other organizations have provided a solid foundation for startups.
He noted that when ‘Startup India’ was launched in 2016, the country had around 400 startups. Today, that number has surged to over 150,000. This rapidly growing ecosystem has positioned India as the world’s third-largest startup hub.
Mehta referred to the MSME sector as the backbone of the Indian economy, generating over 11 million jobs in the country. He emphasized that for India to achieve its goal of a ‘Developed India,’ it is crucial for this sector to continue strengthening.
He stressed that while the government formulates policies, their impact will only be visible when implemented effectively at the grassroots level. MSMEs are not limited to major cities; they extend to district and block levels. Therefore, state governments and local administrations must collaborate to support these enterprises.
Mehta further mentioned the need for awareness campaigns and the establishment of a robust ecosystem within MSME clusters to facilitate the growth of small industries, enabling them to perform better in the future.
He commended the organizers of the summit, stating that such events inspire startups and MSMEs. In the coming years, this sector will become even stronger and play a crucial role in elevating India’s economy to new heights.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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