Prime Minister Narendra Modi on Tuesday underlined the importance of micro, small and medium enterprises’ (MSME) sector focussing on quality and durability to become a strong part of the global supply chain.
Addressing MSME entrepreneurs of the automotive sector at the ‘Creating the Future – Digital Mobility for Automotive MSME Entrepreneurs’ programme held here on Tuesday, he acknowledged the contribution of the MSME sector in the automobile industry.
Lakhs of vehicles being produced in the country had several spare parts made by the MSMEs. “Besides, many cars in the world use the components manufactured by our MSMEs,” Mr. Modi said.
Prime Minister Narendra Modi is seen visiting the Meenakshi Amman temple at Madurai February 27, 2024 | Photo Credit: G. Moorthy
The guiding principle of MSMEs should be producing components without defects, and that do not have any adverse effect on the environment.
During the COVID-19 pandemic, the Centre came up with schemes such as the PM-Mudra, PM-Vishwakarma, and the MSME credit guarantee scheme to save jobs in the MSME sector, Mr. Modi said, and assured the sector of low-cost loans and facilities for working capital that can provide them the scope for expansion.
He further pointed out that the Centre was taking care of the MSMEs’ need for new technologies and skills by creating a separate Ministry for Skill Development.
He also appealed to entrepreneurs to expand their capacities in line with the increasing demand for electric vehicles.
Recalling the Rooftop Solar scheme to be implemented in one crore houses, he said the new facility would not only provide 350 units of free power and extra income to the households, but also convert the houses into charging stations for their EVs.
Stating that ₹26,000-crore worth productivity-linked incentive scheme was promoting 100 advanced automotive technologies in the country, the Prime Minister said that these technologies would bring in global investments to the country, for which the MSMEs need to expand their capacities.
Mr. Modi also launched the TVS Open Mobility Platform and the TVS Mobility-CII Centre for Excellence to highlight MSMEs in the automotive industry, which would help them formalise operations, integrate with global value chains and become self-reliant.
Union Minister of State for Fisheries L. Murugan, and Chairman of TVS Supply Chain Solutions R. Dinesh spoke.
Later, the Prime Minister offered prayers at the Meenakshi Sundareswarar Temple.
After an overnight stay in the city, he will leave for Thoothukudi on Wednesday. He will also address a public meeting in Tirunelveli later.
