Vision of “Atma Nirbhar Bharat” Role and Significance of MSME

Abstract

Purpose: The present paper aims to explore the changing role of MSMEs (Micro, Small and Medium Enterprises) in making India ‘Atmanirbhar’. The said research paper proposes list of certain measures to be taken by the government to include and encourage MSMEs in making the mission of ‘Atmanirbhar Bharat’ realistically achievable. In this context, the authorities must address key MSME inputs such as access to financial equity, technical workforce, and building market competitiveness, and so on.

Design/Methodology/Approach: The study is based on secondary information gathered from diverse sources such as published articles, government and other web sites, news, etc.

Findings: Research paper findings indicate that a systematic framework is required to include MSMEs in making the ‘Atmanirbhar Bharat’ a reality. It may be advised that there is need to understand our strengths and accordingly to bring-up and support the industry. There is no point in getting driven by the ‘anti-China’ sentiments. It may be suggested to start with creation of agro-based MSMEs as agriculture is India’s strength and is the largest employment generating industry. Artisans and craftsmen are using natural resources for making their products. Providing training and technology to artisans and craftsmen will definitely enhance their business prospects. Another sector is healthcare which will offer opportunity for MSMEs to provide a range of products and services for the masses. Later other sectors may be thought such as manufacturing (healthcare, consumer electronics, power equipment, to name a few) and lastly technology-based industry such as products and services making use of AI (artificial intelligence).

Originality/Value: This study attempts to offer some of the options that may be considered or implemented in the context of strengthening of MSMEs. With significant contribution from the MSME sector in the country’s GDP and employment generation, their empowerment will certainly help in achieving the vision of ‘Atmanirbhar Bharat’. Agriculture based manufacturing activity will definitely provide boost to MSMEs and will result in employment generation.