MIT-Global Start up Workshop, Hyderabad

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Good morning, and welcome to MIT Global Startup Workshop 2016. As a Minister of Micro Small & Medium Enterprises I am proud to be here addressing the wonderful selected participants, organizers and MIT team at this workshop. Warm greetings for Mr. Rao.
It gives me immense pleasure to address this august gathering on the Inaugural Session of “MIT-Global Startup Workshop”. Start up India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design. The Government of India has taken various measures to improve the ease of doing business and is also building an exciting and enabling environment for these Startups, with the launch of the “Startup India” movement including MSMEs in the country.
The role of MSME sector can best be ascertained in terms of its contribution in GDP, manufacturing output, export and employment generation. The MSME sector in India is diverse in terms of its size, levels of technology employed and range of products and services produced. Starting from grass root village industries, the products from the sector spans to auto components, micro-processors, electronic components and electro-medical devices.
MSMEs have shown constant growth rate of over 10% in recent years much ahead of the large-scale corporate sector. This sector contributes 37.5 per cent of the country’s GDP, 45 percent of the manufactured output and 44 per cent of its exports. The MSMEs provide employment to over 80 million persons through over 36 million enterprises producing over six thousand products.
The Prime Minister of India has envisioned the country as a ‘Manufacturing Hub’. The vision of making India a manufacturing hub and helping in achieving double digit GDP growth rate is only possible by giving impetus to MSME sector of the country which is called engine of growth.
The “Make in India” Strategy aims to facilitate investment, foster innovation, enhance skill development and build manufacturing infrastructure in the country. The real objective of this Strategy is to ease the investment caps and controls to open up India’s industrial sectors to global participation. This is a well drawn out Strategy and is the most relevant for India’s MSMEs.
The government is focussing on facilitating the ease of doing business and encouraging growth of entrepreneurs. Towards this effect, Udyog Aadhaar Memorandum (UAM) has come into force with effect from 18.9.2015 in place of the earlier EM-I &EM-II. It is also clarified that units having either permanent SSI registration certificates prior to implementation of the MSMED Act, 2006 or EM-II Memorandum or Udyog Aadhaar Memorandum would also be eligible for availing of assistance under various schemes implemented by the Government. Udyog Aadhaar Memorandum is a simplified form to be filled online on self declaration basis without any supporting document and fee.
The Hon’ble Prime Minister is also focussing on greater use of IT tools and, accordingly, Digital India Initiative has been launched. Towards this end, my Ministry has launched a portal on Digital Employment Exchange for Industries dated 18.6.2015, wherein job seekers can find employers and vice versa. Therefore, it is of utmost importance that the skilled workers get a platform where they can find livelihoods for themselves. Thus, this facility will enable industrial units find suitable manpower and job seekers find suitable jobs.
The Prime Minister had announced the ‘Start-Up India, Stand Up India’ initiative in his Independence Day address last year. The Government will unveil a blue print for start-ups to ease the process of setting up new venture very shortly. There will be special support structure for innovation based start-ups, including funding from the government. The initiative will give a new dimension to entrepreneurs and help set up a network of start-ups in the country.
Under stand–up India initiative, each of the 1.25 lakh bank branches would be encouraged to fund a SC/ST and woman entrepreneurs to create 2.5 lakh new entrepreneurs in the country.
The role of the M/o MSME is primarily to assist the States/Union Territories in their efforts to promote growth and development of MSMEs. The main focus of the schemes/programmes undertaken by the Organisations of the Ministry is thus to provide/facilitate a wide range of services. The details of scheme/guidelines are available on the Ministry’s website.
The Credit Linked Capital Subsidy Scheme (CLCSS) provides upfront capital subsidy for technology up-gradation support by providing 15% capital subsidy (limited to maximum Rs. 15 lakhs) for purchase of Plant & Machinery.Under this scheme assistance is being provided to the young entrepreneurs to set up new micro enterprises in the manufacturing as well as the services sectors. During 2014-16 (till 8th March, 2016) 1,12,883 projects have been approved, which generated total employment of 8,71,000.
The Ministry is implementing another credit linked scheme, namely, Prime Minister’s Employment Generation Programme (PMEGP) for assisting the young entrepreneurs to set up new micro enterprises in the manufacturing as well as the services sector.
Availability of easy credit is one of the major hurdles for growth of MSMEs. In this regard the Ministry is implementing the Credit Guarantee Fund Scheme for Micro and Small enterprises (CGTMSE) since August, 2000 with the objective of making available credit to Micro and Small Enterprises for loans up to Rs. 1 crore without collateral/ third party guarantees.
To improve access of MSME units to market, Public Procurement Policy (PPP) Order was brought out w.e.f. 1.4.2015. Under this Order, it is mandatory for the Central Government Ministries/Departments/CPSUs to procure at least 20% of their annual requirement from MSEs and 4% from MSE units owned by SCs/STs. The Ministry also organises National/State Level Vendor Development Programmes (NVDP/SVDP) to bring together buyers-seller on a common platform.
A Scheme for Promoting Innovation and Rural Entrepreneurship (ASPIRE) was launched by the Ministry on 18.3.2015. The scheme was formulated to set up a network of technology centres and to set up incubation centers to accelerate entrepreneurship and also to promote start-ups for innovation and entrepreneurship in agro -industry. The Planned outcomes of ASPIRE are setting up Technology Business Incubators (TBI), Livelihood Business Incubators (LBI) and creation of a Fund of funds for such initiatives with SIDBI. 1st LBI set up in April 2015 under ASPIRE within a month of launching the Scheme.
SFURTI Scheme organizes the traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability and economy of scale. The SFURTI Scheme launched in 2005-06 for making Traditional Industries more productive and competitive by organizing the Traditional Industries and artisans into clusters has been revamped. The Government of India has approved a revamped SFURTI with modified norms for continuation during the XII Plan.
The Ministry is focussing on high end skilling and technical support through 18 Tool Rooms/Testing Centres and Technology Development Centres. The Ministry has undertaken skill mapping for all district of the country. My Ministry has prepared district-wise Skill Profiles in the country in consultation with stakeholders including state governments, industry associations and various universities etc. Skill mapping will address the concerns of MSMEs with respect to skilled workers. In the comming years 20 more new technology centers are going to be started in the country for which places have been finalised.
Our Hon”ble Prime minister launched MUDRA scheme being implemented in three levels.First sishu MUDRA which is upto 50,000.Second kishore MUDRA from 50,000 to 5 lakhs and third tharun MUDRA from 5 lakhs to 10 lakhs financial assistence is being provided.Through this scheme micro manufacturing as well service sector will get loan without no guarantee and third party.so far crores of poor and downtraden people benfited nearly 1 lakh crore financial assistence provided and one lakh eighty thousand crores has been allotted in this year budget.
Start ups are considered to be most important economic representative for economic growth of the country. They also generate employment opportunities and contribute in improving family’s living standard. I am happy to note that, in this 3-day conference there would be deliberations on several topics of importance: Women empowerment, Funding environment, Transforming research ideas into products/successful business, IPR and protecting novel ideas, Defense innovation, Make-in India hardware and manufacturing innovations, Case studies, Business plan competitions, and focused discussion on rising avenues to increase capabilities of manufacturing units, training programmes on elevator speech, Entrepreneur start-up showcase, Digital India, Hardships in entrepreneurship and so on. The deliberations would certainly boost the morale of the youth and other stakeholders, make people aware, stimulate their desire to be an entrepreneur and ultimately incubate with global leaders. My Ministry is always there with MIT GSW to enhance and promote the environment of entrepreneurship in India which would establish the Brand India to the next level.
I once again appreciate all the initiatives taken up by MIT-GSW in association with other Indian organisations to conduct the Global Start-up workshop in Hyderabad, India.
Thank You