On December 7, 2020 Mastercard, National Institute for Micro, Small & Medium Enterprises (ni-msme) and Confederation of Indian Industry (CII) entered into partnership to launch Digital Saksham, a capacity building initiative to drive awareness about digitization for Micro, Small and Medium Enterprises(MSMEs) in India. Under this 3 year project, more than 3 lakh MSMEs will be trained to adopt digitisation.
Note– Digital Saksham will be launched across 25 cities in 7 states of India.
Need of MSMEs to be integrated into Digital Economy
To expand MSMEs access to markets, diversify their customer base and solidify their supply chain.
Highlights of Digital Saksham
i.Digital Saksham, an expansive program is designed to strengthen MSME’s competitiveness by building their digital know-how and acceptance.
ii.The program involves 3 key stages over 3 years from the launch, including outreach, capacity building and adoption of digital tools that will help small businesses.
iii.This provides the entrepreneurs the information, skills, and tools that increase financial security and resilience.
iv.It measures digital adoption by small businesses and their associated growth and expansion.
i.The training of the MSMEs in the project will enable them to have access to credit and markets, enhance their financial prudence, knowledge and tools that drives operational efficiencies and helps in overall enterprise development by increasing their business acumen.
ii.This will drive inclusive growth for MSMEs.
Statistics Regarding MSMEs
More than 63.4 million MSMEs in India provide employment to over 114 million people and contribute nearly 35% to India’s GDP
Recent Related News:
On November 25, 2020 Small Industries Development Bank of India (SIDBI) has signed a Memorandum of Understanding (MoU) with TamilNadu(TN) government to develop the MSMEs(Micro, Small and Medium Enterprises) ecosystem in the state. Under the MoU, a Project Management Unit (PMU) will be set up by SIDBI in TamilNadu.
About Confederation of Indian Industry(CII):
President– Uday Kotak(Managing Director & CEO, Kotak Mahindra Bank Limited)
Director General– Chandrajit Banerjee
Headquarters– New Delhi, India
About National Institute for Micro, Small & Medium Enterprises (ni-msme):
IT was originally set up as Central Industrial Extension Training Institute (CIETI) in New Delhi in 1960 as a Department under the Ministry of Industry and Commerce, Government of India
Director General– S. Glory Swarupa
Chairman of Governing Council of ni-msme & President of Society– Union Minister of MSME, Govt of India
Current Union Minister of MSME– Nitin Jairam Gadkari
HeadQuarters– Yousufguda, Hyderabad