Make in India certificate is mandatory for MSME to participate in Government tenders
Make in India certificate is now mandatory for MSMEs to participate in Government tenders as the Government encourages Manufacturers and service providers through various schemes and policies. The focus of the Make in India programme is on 25 sectors. These include automobiles, automobile components, aviation, biotechnology, chemicals, construction, defence manufacturing electrical machinery, electronic systems, food…
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Startup India for driving innovation and economic growth
The government of India recognises the importance of startups in driving innovation and economic growth. The Government departments related to various ministries have introduced schemes to provide financial, infrastructural, and regulatory support to startups. The startup schemes cover sectors like technology, manufacturing, agriculture, healthcare, and more. The Startup India scheme is based majorly on three…
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Role and Significance of MSME in Economic Development
The micro, small and medium enterprises (MSMEs) are often known as the backbone of the Indian economy. This sector contributes more than 29% to the GDP and is responsible for around 50% of India’s total exports. MSMEs also contribute one-third of India’s manufacturing output and employ people living in semi-urban and rural areas. The MSME…
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How ZED certificate is useful for MSME entrepreneurs?
The idea of the Government on the MSME sector has been to manufacture goods in the country with “zero defects” and to ensure that the goods have “zero effect” on the environment. That is to say that we should manufacture goods in such a way that they carry zero defects and that our exported goods…
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Employment growth rate in Secondary sector of Indian Economy
Secondary sector in an economy that is accountable for securing and processing raw materials into finished goods. Some of the manufacturing industries like Automotive, Electrical, Textiles, Chemicals, Food Processing, Steel, Transportation Equipment, Cement, Mining, Petroleum, and Machinery are considered secondary sectors. The employment growth in the secondary sector in India is marked by the inability…
Sunrise sectors give wings to India’s economic goal
A Sunrise industry is a new business or relatively new sector with the potential for rapid growth. Sunrise industries are often in their infancy stage showing promise of rapid growth. The IT industry is called the sunrise industry because of its high growth rates, startups, and huge capital funding. Some of the sunrise sectors in…
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