NITI Aayog plans to raise Indian penetration into GVCs for MSME growth

Dx-EDGE is spearheaded by the Confederation of Indian Industry (CII) with the support of NITI Frontier Tech Hub (NITI FTH) and All India Council for Technical Education (AICTE) to drive digital transformation across the country’s MSMEs. 

MSMEs are the most hit by regulations, and have challenges that must be tackled in clusters and groups, Subrahmanyam said, adding a task force under the cabinet secretary is working on deregulation.

NITI Aayog is working on a plan to raise India’s penetration into global value chains for MSME growth, its CEO B V R Subrahmanyam said at the launch of the Digital Excellence for Growth and Enterprise, a platform to empower MSMEs with the tools, knowledge and ecosystem needed to turn competitive and resilient.
Dx-EDGE is spearheaded by CII with the support of NITI Frontier Tech Hub and AICTE.

The bulk of global manufacturing is of intermediate products, which are largely made by MSMEs, he said.

“MSMEs is a nomenclature. It is not a sector. We need a differentiated approach. While we have 60 million digitally registered MSMEs, only 800,000 of these are small, and just about 70,000 are medium. There are varying levels of capability and digital maturity, exposure to debt, and technology adoption. I request the industry to focus more on the SME segment,” MSME secretary S C L Das said at the event in New Delhi.

“Strategically, the new classification scheme gives the small sector a big headroom deliberately to provide the necessary stimulus and growth space for exports, technology, and advancing towards high-tech,” Das was quoted as saying by domestic media reports.

The registered MSMEs in the country are expected to touch 90 million by 2029 from over 60 million currently registered under Udyam and Udyam Assist portals.

Fibre2Fashion News Desk (DS)