Defence Minister Rajnath Singh inaugurated the
three-day ‘India Manufacturing Show’ in Bengaluru on Thursday.
The show has been jointly organised by Laghu Udhyog
Bharti and the IMS Foundation and supported by the Department of Defence
Production under the Ministry of Defence.
The central theme of the event is ‘Make in India, Make
for the World’. The sixth edition of the ‘India Manufacturing Show’ will
provide a platform for the exhibitors to showcase their technologies, equipment
and R&D in different sectors, such as aerospace & defence engineering,
automation, robotics & drones to the participants.
Addressing the industry captains and young
entrepreneurs present at the inaugural function, Defence Minister Rajnath Singh
described the small-scale industries as the backbone of India’s economy that
contribute immensely to the development of the nation.
“Small industries are the motor of the Indian economy.
The faster the motor runs, the quicker the vehicle of the economy moves,” he
said, also crediting the small industries for maintaining stability in the
economy.
Rajnath Singh highlighted the important contribution
of these industries to the socio-economic development of the country.
“Compared to investment made, small industries create
more employment opportunities than large industries. They also ensure a more
even dispersion of wealth in society. Many MSMEs are doing well in exports and
are becoming a part of the global supply chain of the world’s biggest
companies. Heavy industries, too, play a big role in the nation’s development,
but the country cannot fully progress by ignoring small industries,” he said.
During his address, the Minister remembered the time
when India was called the ‘golden bird’ and a big reason he said was that there
were many small industries in villages and towns, which provided employment to
the people.
“In ancient times, there were no large-scale
industries in India; they were only small industries. Textile, iron and
shipbuilding were the three industries for which India was known all over the
world. They showcased our industrial capability,” Singh noted.
Rajnath Singh also underlined the ability of small
industries to adapt to the changes more easily than large industries.
“It is the adaptability of small industries which
increases the possibilities of innovation. Many times, small industries bring
more innovation than large industries in terms of new products, services and
business models,” he said.
Referring to the opinion of a section of people who
believe that private industries operate on selfish motives, Rajnath Singh said,
“There is a need to understand the concept of economy; the fine line between
selfish motive and profit motive. The profits of private industries reach
crores of families in India, due to which the economy of this country is
running. If private industries do not work on a profit motive, they will not be
able to contribute to the economy. ‘Profit is not selfish, profit is legitimate
benefit”.
Rajnath Singh voiced the importance his government
attaches to small-scale industries and listed out a number of decisions taken
to ensure their welfare. These include the MUDRA scheme, launched in 2015,
under which a provision was made to provide collateral-free loans to MSMEs. The
government also provided additional credit worth crores of rupees for MSMEs
during the Covid pandemic.
The defence minister also enumerated the unprecedented
steps taken for MSMEs in the defence sector.
“We are the first government which imposed
restrictions on itself for the import of weapons. We released five positive
indigenisation lists, under which 509 pieces of equipment have been identified,
the manufacturing of which will now take place in India.
In addition, four positive indigenisation lists for
Defence Public Sector Undertakings (DPSUs) were also promulgated, under which
4,666 items were identified, that will be manufactured within the country. To
ensure adequate demand assurance for our domestic industries, we reserved 75
per cent of the defence capital acquisition budget, which amounts to
approximately Rs one lakh crore, for purchases from local companies. These
steps will strengthen our MSMEs and make them Aatmanirbhar,” he said.
ANI
