MSMEs comprising 51 million units and producing diverse items form the backbone of Industrial landscape. As the world is gearing up for Industry 4.0, the MSME sector needs to pay serious attention on manufacturing high quality and technological products, said Giriraj Singh.
He was speaking at the 14th Global MSME Business Summit 2017, ‘Fostering Growth through Partnerships’ organized by Confederation of Indian Industry in partnership with Ministry of MSME and Department of Economic Affairs at New Delhi on Tuesday.
Highlighting the role of Zero Effect Zero Defect in MSME sector, the Minister emphasized that technologies like 3D printing can help in reducing cost and time for MSMEs. Innovation is essential for competitiveness and to acquire this it is essential to understand and adopt emerging technologies like Artificial Intelligence (AI), Internet of Things (IoT) etc. which are going to define the future course for the industry, he added.
Given that more than 60 percent of India’s population still lives in rural areas, it is equally important to tap the entrepreneurship potential of MSMEs in agriculture sector as well and bring in value addition in agro industries, Minister emphasized.
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