MSME sector poised for rapid growth, job creation: Mishra

Country's Micro, Small and Medium Enterprises (MSME) sector is poised for rapid growth and has a huge potential for job creation, Union Minister Kalraj Mishra said.

"There is a huge potential in MSME sector. It can create an upsurge in the employment opportunities in the country.

Poised for rapid growth and integration with major global value chains, MSEs will make considerable impact in realising Make in India vision. The sector has the potential to market its 'Made in India' brand globally," MSME Minister Mishra said while inaugurating the Cluster Development Programme here.

Mishra said the Micro and Small Enterprises Cluster Development Programme (MSE-CDP) is being implemented by MSME Ministry for holistic and integrated development of MSEs in clusters through soft interventions such as capacity building, marketing development, export promotion, etc.

A total of 1,018 interventions (i.e. diagnostic study, soft interventions and setting up common facility centres) in various clusters spread over 29 states in the country have so far been taken under the MSE-CDP Programme.

"The MSE-CDP scheme has proved to be a key strategy for enhancing the productivity and competitiveness as well as capacity building of MSEs in India. The MSME ministry through this scheme aims to promote entrepreneurship, generate employment and augment productivity," Mishra said.

The scheme has touched various sectors of the economy and benefitted a large number of enterprises, facilitating economies of scale in terms of deployment of resources.