Focus on MSME key will harness 47 million workforce
This is probably the first time in a long while that the industry heard the words `incubation', `funding' and `entrepreneurship' all in one speech by the FM. Though industry experts greet it with the enthusiasm there is also a degree of caution, as they wait for the implementation of these announcements. The country was hoping that the new government's policies will usher India towards economic growth. "The strategic focus on MSME (redefined) and building an ecosystem for innovations, incubation and a venture corpus fund of INR 10,000 crore, as well as a multi layer skill development plan, will boost the culture of bare foot innovators. This will create multiple opportunities for employment and self reliant micro economics, where growth will come from local resources. It is a very prudent approach to harness the 47 million surplus skilled work force that is likely to emerge in 2020 to be exported to the rest of the world,'' says Jagirdar.
Read the Economic Times news report here.