India’s small and medium business (SMB) segment can play a huge role in providing goods and services across the globe at a time when the country is resetting its ambition to become a bigger and bigger player in the global manufactured goods segment. Minister of State for Commerce, Rajiv Chandrasekhar, Minister for Skill Development and Entrepreneurs and the Ministry of Electronics and Information Technology said.
Entrepreneurs, technocrats and a Member of Parliament were delivering the keynote address at the two-day Virtual Amazon Summit Summit 2022 on ‘The Value of Digitizing India’s Supply Chain to Build a True Self-Reliant India’.
The Minister highlighted the fact that technology and digital initiatives – both small and large – have helped India recover from the effects of the epidemic.
“Digital technology and digitally empowered initiatives have helped revive our economy and transform the Indian economy into one of the fastest growing economies in the world. And one of the most digitally capable economies in the world, “he said.
He added that the vision of a self-reliant India involves SMBs and start-ups to create a vibrant ecosystem of innovation, competition and efficiency that can create products and services for the Indian market for Indian consumers as well as global customers.
“I think India, the Indian economy and Indian economic participants, more importantly, SMBs can play a major role in providing goods and services to the world in the coming years,” he said, adding that employment opportunities and jobs in India accounted for a large percentage of SMEs. And so their effectiveness and the ability to grow and access multiple markets is an important element of policy-making for government.
The Minister further said that India is now restructuring its future and resetting its ambition to become a bigger and bigger player in the world trade manufactured goods segment.
“It is important that India’s SMBs use technology and be assisted by companies like Amazon who have a huge presence on the Internet to enable market access. It is clear that India is becoming a major exporter of commodities and manufactured goods,” he said.
He added, “We are on track to become a truly large exporter not only on the basis of large enterprises but also on the basis of a combination of large enterprises and healthy significant contribution of Indian SMBs.”
He said that the government is very much focused on issues like supply chain, logistics and competition and is doing everything possible to make India a competitive country by partnering with global consumer countries for its production.
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