In India, MSMEs contribute about 30 per cent to its GDP but have not yet received due recognition or support to strengthen itself to be more competitive and increase its contribution to the national GDP. This sector boasts of 63 million units and employs 110 million workers. As per the government, MSMEs require all the support to help India become a $ 5 trillion economy. The Ministry of Micro, Small and Medium Enterprises launched the CHAMPIONS portal which stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.
It was time to create a single window system for this sector. Therefore, CHAMPIONS has been put and promoted as a unified, empowering, bundled and technology-driven platform to handhold, and solve problems, roadblocks and grievances. CHAMPIONS have set three key objectives. The first one is to aid MSMEs in difficult situations in terms of finance, raw material sourcing, labour, permissions, etc. The second objective is to help MSMEs to find new opportunities in manufacturing and services sectors. The third objective is to identify the star MSMEs who can demonstrate resilience during this tough economic time and grow to become domestic and international champions.
One of the key sectors that have outshone others and registered tremendous growth is the textile and apparel MSMEs.
Haryana to enhance its textile MSMEs
The state government plans to promote its textile industry, mainly MSMEs, through its Haryana Atmanirbhar Textile Policy of 2022. The policy has already been placed in the cabinet for approval and will be implemented before 2025, with the state government targeting an investment worth Rs. 40,000 million and creating 20,000 jobs for the state’s youth. The Haryana Atmanirbhar Textile Policy includes entrepreneurship expansion, investment, employment generation, grants, textile parks and supply chains. In the field of textile MSMEs, Haryana has carved itself amongst the top three states and is also one of top Indian states for ease of doing business. The policy will pay particular attention to developing synthetic fibre and regenerated fibre to meet domestic and international demand. The policy has also engaged with the National Technical Textiles Mission as it wants aggressively promote the manufacture of technical textiles in Haryana as the demand for this particular textile is growing rapidly worldwide.
Walmart, Flipkart and NSIC to unlock export potential
The National Small Industries Corporation was partnered by Walmart and Flipkart to speed up the Indian MSMEs in the retail sector to expand their output capacities. The aim is for these MSMEs to leverage the export potential factor and become a part of the retail supply chain for both, the domestic and international markets. In a recently held summit that marked the completion of Walmart Vriddhi Supplier Development Programme by 20,000 Indian MSMEs, the three entities signed the agreement of development. A senior US-based Walmart spokesperson stated the organisation was committed to triple its exports by 2027 to $ 10 billion per annum and therefore are keen to support the rapid development of India’s retail MSME sector.
In a statement issued by Flipkart’s Chief of Corporate Affairs, the organisation identified technology and innovation playing a crucial in the growth of small businesses in India. It will focus on helping MSMEs through the paces of digitisation so they can enhance their outreach and growth through e-commerce. This will enable small businesses artisans and weavers across the country expand their business like never before.