Defence Minister Rajnath Singh Emphasizes the Vital Role of Small Industries

Defence Minister Rajnath Singh Emphasizes the Vital Role of Small Industries

VoM News Desk | November 2, 2023 | 07:29 PM IST | Politics | Follow on Google News

Defence Minister Rajnath Singh Emphasizes the Vital Role of Small Industries

Defence Minister Rajnath Singh Emphasizes the Vital Role of Small Industries

Defence Minister Rajnath Singh, addressing the audience at the India Manufacturing Show, underscored the significant contributions of small industries to India’s socio-economic development. He emphasized that small industries play a pivotal role in creating employment opportunities and ensuring a more equitable distribution of wealth within society when compared to larger industries. Minister Singh acknowledged that many Micro, Small, and Medium Enterprises (MSMEs) in India are excelling in exports and becoming integral components of the global supply chain for major international companies.

‘India Manufacturing Show’ Promotes ‘Make in India, Make for the World’

Rajnath Singh inaugurated the three-day ‘India Manufacturing Show’ in Bengaluru, a collaborative effort between Laghu Udhyog Bharti and the IMS Foundation, with support from the Department of Defence Production under the Ministry of Defence. The central theme of the event, ‘Make in India, Make for the World,’ aims to provide a platform for exhibitors to showcase their technologies, equipment, and research and development in various sectors, including aerospace and defence engineering, automation, robotics, and drones.

Small Industries: The Backbone of India’s Economy

Minister Rajnath Singh hailed small-scale industries as the backbone of India’s economy, likening them to the motor that propels the nation’s economic vehicle. He stressed that the growth and stability of small industries have a direct impact on the overall economy. Rajnath Singh also reflected on India’s historical economic prosperity, attributing it to the presence of numerous small industries in villages and towns. These small-scale enterprises provided employment opportunities and contributed to the nation’s development. He further highlighted the adaptability and innovation potential of small industries, emphasizing that they often lead the way in creating new products, services, and business models.

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