Home Business National Small Industry Day 2022: Date, History and Significance

National Small Industry Day 2022: Date, History and Significance

0
National Small Industry Day 2022: Date, History and Significance

[ad_1]

The country observes the National Small Industry Day every year on August 30 to recognise the importance and contribution of the small-scale businesses in India. The small-scale sector plays a key role and is a major growth indicator in the Indian economy. The National Small Industry Day is celebrated across the country to encourage the development and growth of the sector that contributes as much as 40 per cent to the gross industrial value of the country’s economy.

National Small Industry Day: History

The advent of the National Small Industry Day can be traced back to August 2000 when the government formulated a comprehensive policy package for small-scale industries (SSI) in India. On August 30, it was decided by the Ministry of Small-Scale Industries that the very day would be observed as SSI Day.

For the very first time, on August 30, 2001, the ministry organised a convention for entrepreneurs in the small-scale industry in New Delhi, and along with that, held an event to present national awards. The convention started with the inauguration ceremony, followed by the award distribution, and culminated with an open house discussion.

National Small Industry Day: Significance

The day motivates and shapes government policies to enhance the efficiency of the small-scale sector. Micro, Small, and Medium Enterprises (MSMEs) are an integral part of the value chain and to foster the ecosystem, the government is working tirelessly.

The day also highlights the efforts made by the centre to widen the range of these sectors into various services and commodities hovering in the economic model of a country which houses more than 6.3 crore MSMEs. The day marks the various other possibilities and opportunities that the sector creates for individuals working in the urban and rural sectors of India.

National Small Industry Day: Government Initiatives

The central government has kickstarted various initiatives such as the CHAMPIONS portal, UDYAM, and National SC-ST Hub, that contribute to making the MSMEs stronger and more stable.

Read all the Latest Business News and Breaking News here

[ad_2]

Source link