MSME is a “Mechanism for Growth”. MSME sector is growing at a higher pace. This sector contributes terrifically to the socio-economic development of the country. The present paper is an attempt to analyze the significant role of the youth in MSME. MSME is performing remarkable tasks for the upliftment of the youth and the upgradation of the technology in its working. The objective of this paper is to visualize and give a new dimension to the Ministry of MSME. MSME has adaptability that is the quality to adjust with the changing environment. MSME is a new wave for the Indian Economyand has appeared to be determined and a powerful sector.
India is the second most populous country in the world ranking after china and has world’s largest working population. Young population, the youth of India are the innovators, builders, creators, thinkers and the leaders of the future. Only with these qualitiesthey won’t be leading to a better future for this they require proper skills, health and decision makingnot only for their future but also for the country. For developing these qualities and for opening a new way for the world’s largest working population MSME was introduced. MSME not only provide large employment opportunities at a lower capital cost but also contribute in rural and backward development and in removing the regional disparities.
In the same stream Mr. Giriraj Singh launched the MSME Delayed payment portal with the help of which the delayed payment cases by MSME can get registered so that the MSME would get its money back on time.
Further in terms of workforce Micro and Smallsector will always run notwithstanding the ups and downs.
The main objectives of the study onMSMEs: “A New Wave for the Indian Economy”are:
This paper is a conceptual research paper to conceptualize the Indian economy in terms of MSME. The data has been collected from various secondary sources in reference to MSME.
MSME lead to the increase I thee contribution to GDP of the country and so with its potential it would also be contributing to employ to over 50 percent over the next decade. The unofficial MSME that is which are not registered must be made part of the official MSME’s that are registered.MSME sector is providing comparatively larger employment opportunities at a lower capital cost mainly in the rural areas will act as a support system in the growth of the country. India needs to create 10 to 15 million job opportunities per year over the next decade to provide gainful employment to its capable population. The mission will help in generating employment for the youth in rural areas as well as support the country in the development of the green economy.
The Ministry of MSME is dedicated towards guiding the youth to be employable. The apex organizations working for the same are National small industries corporation (NSIC), National institute for MSME’s (NI-MSME), Central tool room (CTR) are responsible for their contribution towards youth training.
National small industries corporation- NSIC is working under MSMEE and is a public sector enterprise. It is functioning with a purpose of encouraging, nurturing and stimulating the growth of Micro, small and medium enterprises in the country. It renders various support services.
National institute for MSME’s- NI-MSME is the primary institute for the advancement, development and improvement of the MSME sector. It performs a number of operations like training consultancy, research and education etc.
Central tool room – CTR-Ludhiana is setup under an agreement between government of India and government of Germany in 1980.It is working under MSME and is controlled by it.Tool development, rapid prototyping, heat treatment and training are its basic services.
The call for “Skill India Mission” by the honorable Prime Minister lead to the formation of Ministry of MSME which is providing training to eight to nine lakh of persons per year to enable them to create new enterprises or become job ready for industries.
India has the power to become global supplier of quality manpower and so with this the ministry of MSME has given top priority to skill development.MSME’s sector growth is affected due the lack of skilled manpower and information as well as lack of reach to modern technologies.The Ministry of MSME conducts a large number of short term as well as long term courses to train unemployed youth for self employment, to provide necessary and quality skills to the youth to make them eligible for the employment and also to increase the level of skills of the existing workers and entrepreneurs of MSME sector.Through MSME both educated and uneducated are provided skills to be a good small scale entrepreneur.
The youth in Jammu & Kashmir-Rajouri claimed that the MSME schemes made them skilled craftsmen by the loan provided under this scheme. Jammu & Kashmir-Rajouri, the youth in the far flung area are availing the self employment opportunities offered to them by MSME.The youth along the border area are indulged in manufacturing number of iron equipments.
Skill Development is only one side of a coin finding the right employment for the skilled youth is another.
Not only the quantity of skilled manpower but the quality of skilled manpower is necessary for the gainful results.
TheMSMEs through the business innovations have been contributing crucially towards the expansion of entrepreneurship. MSMEs are providing a wide range of products and services to meet the domestic and global markets. According to the data available thee contribution of the MSME sector in country’s Gross Value Added and Gross Domestic Product at Current Pricefor the past years is as below:
As per the data above,the contribution of manufacturing MSMEs has remained consistent at one third for the past few years in the country’s total manufacturing GVO (Gross Value of Output) at Current price.
MSMES are scattered all around India over the different states.The schedule and graphical representation of the distribution of MSMEs in different states is available below:
Uttar Pradesh is a state having the largest number of estimated MSMEs with a share of 14.20% of MSMEs in the country.West Bengal with the nearest share of 14% is next. Tamil Nadu is little behind with 8% of share.The Top Ten States together have a portion of 74.05% of the total estimated MSMEs in the country.
In the list of priorities of the government; the topmost is to stimulate the youth to be a speculator and start a new business as the country has its focus on the growth and self reliance by overcoming all the uncertainties.
MSME will leave no space between the talented youth and the enterprises requiring trained manpower.
If the skills of the talented youth are not utilized properly then it is worthless.
So, MSME focuses on utilization of skills and resources available to the optimum state.
MSME is not the whole solution still a steps towards the improvement.
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