On November 2, 2023, the Honorable Raksha Mantri, Shri Rajnath Singh, inaugurated the three-day ‘India Manufacturing Show‘ in Bengaluru, Karnataka. This is the sixth edition of the show. Organized jointly by Laghu Udhyog Bharti & IMS Foundation and supported by the Department of Defence Production, Ministry of Defence, this event carries the central theme of ‘Make in India, Make for the World.’ The event not only serves as a platform for showcasing cutting-edge technologies and innovations but also emphasizes the significance of small-scale industries in India’s economic landscape.
Small-Scale Industries: The Backbone of India’s Economy
- Shri Rajnath Singh described small-scale industries as the backbone of the nation’s economy and acknowledged their immense contribution to its development. These small-scale enterprises are deeply interconnected with local communities and are better attuned to local needs.
- The Raksha Mantri referred to small-scale industries as the youth of industrial development. These enterprises are known for their boundless energy, innovation, and the ability to create something new.
The Vital Role of Micro and Small Enterprises (MSEs) in Economies
- Micro and Small Enterprises (MSEs) constitute more than 95% of all businesses in the majority of economies, and they are the primary drivers of employment growth. Furthermore, they significantly contribute to industrial production and exports, accounting for more than 45% of total manufacturing output and 40% of exports, providing livelihoods to 100 million people.
- In India, the MSME sector plays a pivotal role in the ‘Atma Nirbhar Bharat Abhiyan‘ (Self-Reliant India Campaign). This sector is highly dynamic, contributing approximately 35% to India’s manufacturing output. There’s a vision to further increase the MSMEs’ contribution to more than 50% of India’s GDP.
Government’s Support for Small-Scale Industries
- Shri Rajnath Singh highlighted the government’s commitment to the welfare of small-scale industries. He mentioned several initiatives, including the MUDRA scheme, launched in 2015.
- This scheme provides collateral-free loans to Micro, Small, and Medium Enterprises (MSMEs). During the challenging times of the COVID-19 pandemic, the government extended additional credit worth crores of rupees to support MSMEs.
Empowering Micro and Small Industries: Laghu Udyog Bharati’s Commitment to Growth
- Laghu Udyog Bharati, established in 1994, is a nationwide organization dedicated to supporting Micro and Small Industries in India. Presently, Laghu Udyog Bharati boasts a widespread membership across the nation, with a presence in over 400 districts and 250 branches nationwide.
- The organization actively endeavors to tackle the diverse challenges encountered by the MSE sector and eliminate obstacles that hinder its expansion. This dedicated effort aims to streamline the sector and foster its growth.
Boosting Indigenous Manufacturing in Defence
- The Raksha Mantri proudly declared that the government was the first to release five positive indigenization lists, comprising 509 equipment to be manufactured in India. Additionally, four positive indigenization lists for Defence Public Sector Undertakings (DPSUs) identified 4,666 items for domestic production.
- To ensure the growth of domestic industries, the government reserved 75% of the defense capital acquisition budget, amounting to approximately Rs one lakh crore, for purchases from local companies. These measures are aimed at making MSMEs ‘Aatmanirbhar’ (self-reliant).
Innovations for Defence Excellence (iDEX)
- Shri Rajnath Singh also touched upon the Innovations for Defence Excellence (iDEX) initiative, designed to encourage new ideas in defense manufacturing through start-ups and innovators.
- He announced the launch of iDEX Prime, which supports projects requiring funding ranging from Rs 1.5 crore to Rs 10 crore, to aid start-ups in the defense sector.
The ‘India Manufacturing Show’: A Platform for Innovation
- The sixth edition of the ‘India Manufacturing Show’ serves as a valuable platform for exhibitors to showcase their technologies, equipment, and research and development in various sectors, including aerospace & defense engineering, automation, robotics, and drones.
- This event aims to bring together the best minds, technologies, and practices, while providing opportunities for business and knowledge sharing among participants.
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