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Updated February 27th, 2024 at 21:06 IST

PM Modi urged MSMEs to focus on quality and durability

Modi stressed the need for quality and environmental consciousness in production.

Reported by: Business Desk
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PM Modi | Image:ANI
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PM Modi on MSMEs: Prime Minister Narendra Modi highlighted the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) in shaping the nation's future. He urged the MSME sector to focus on quality and durability, aligning with global standards, and emphasised that the government is actively working on various fronts, including initiatives like PM Mudra Yojana and PM Vishwakarma Yojana, to enhance resources and talent for the sector. 

The Prime Minister also mentioned the PM Gatishakti National Master Plan, which aims to boost infrastructure development with multimodal connectivity. He encouraged MSMEs to become part of the global supply chain by maintaining global standards for their products.

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The event, titled "Creating the Future - Digital Mobility for Automotive MSME," goes beyond the automotive sector and received praise from the Prime Minister. He acknowledged Tamil Nadu's global standing in technology, particularly in the automobile industry.

Referring to the "Zero Defect, Zero Effect" approach, Modi stressed the need for quality and environmental consciousness in production. The Rs 26,000 crore Production Linked Incentive (PLI) scheme for the auto and auto components sector, including hydrogen vehicles, was highlighted as a significant initiative that has promoted advanced automotive technologies and attracted global investments.

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Recognizing the automobile industry's vital role during the COVID-19 pandemic, the Prime Minister reiterated that the nation sees the future of MSMEs as intertwined with the nation's future. With the automobile industry contributing around 7 per cent of the GDP, he urged the sector to play a crucial role in driving economic growth through manufacturing and innovation.

 

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Published February 27th, 2024 at 21:06 IST

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