The Karnataka government has decided to provide a toolkit for MSMEs in the State to improve their efficiency, said MB Patil, Large & Medium Industries and Infrastructure Development Minister, Government of Karnataka. Noting that skill development is a crucial area, the Minister added that the government will cater to MSMEs’ skill development needs. He said that tech adoption, export promotion, collaboration, and networking are important for MSMEs.
Patil was addressing businessline’s flagship ‘MSME Growth Conclave’ in Bengaluru on International MSME Day, on June 27. “The contribution of MSMEs in our country is commendable,” he emphasised. The Minister conveyed Chief Minister Siddaramaiah’s greetings for the success of the summit as the CM could not make it as the chief guest of the event due to inclement weather in Hassan district where he had traveled to.
The MSME sector contributes 30 per cent of the GDP of the country, accounts for 50 per cent of India’s exports, and employs nearly 120 million people.
Patil said that MSMEs play a major role in shaping the economy of the state and the country. He recalled his visit to the Hubli Dharwad region and put forth the statistics that the district alone accounted around ₹3,600 crore of investment from MSMEs and the employment generation of the MSME sector is around 2.5 lakh. Meanwhile, the contribution of large-scale industries in this region accounted for ₹3,850 crore investments.
Mentioning the need to strengthen the MSME sector in Karnataka, Patil added, “We like to strengthen our start-up cell. Currently, we have 10 clusters now in the State under the Micro & Small entrepreneurship programme.” He acknowledged the need to provide collateral-free loans for MSMEs and added that the ministry will look forward to address financing and banking issues.
Patil said the Karnataka government headed by Chief Minister Siddaramaiah will work as a team to address and resolve all the issues faced by MSMEs as the sector is the backbone of the economy.
Raghuvir Srinivasan, Editor of businessline, welcomed the guest of honour.
The conclave discussed the effect of interest rates on the growth of MSMEs and how MSMEs can leverage technology such as Cloud and AI for digital transformation. In recognition of the contribution of small businesses and entrepreneurs, businessline hosted the ‘MSME Growth Conclave’ on June 27, observed as International MSME Day, in Bengaluru.
The one-day conclave, in association with Bank of Baroda Credit Cards, Canara Bank, and Aashirvaad as associate partners, was powered by the State Partner - the Government of West Bengal, Department of Micro, Small, and Medium Enterprises, and Textiles. Mahindra was the electric mobility partner and newsX was the broadcast partner.