The Government of India encourages the growth of Small-Scale Industries (SSI) as this sector positively impacts the revenue and is the second greatest employer in the country after the agricultural sector.

SSIs mostly are in the remote areas and they promote the growth of rural and urban areas. SSIs play a major role in women empowerment, social development and balance, and the traditional skills of the artisans are highly utilized bringing in greater employment opportunities.

The Micro Small and Medium Enterprises Development Act of 2006 primarily divides the SSI sector into manufacturing and service.

If you are an entrepreneur, you might like to know the Government policies that can support your business. The Government plays a crucial role in infrastructure development and making economic policy reforms to practically promote the SSI sector.

Some of the Government schemes in India that help entrepreneurs to grow their business are as under-

• Scheme of Fund for Regeneration of Traditional Industries (SFURTI) supports the entrepreneurs in rural areas and promotes employment of artisans of traditional industries
• Market Development Assistance Scheme (MDA Scheme) funds the publicity, international fairs, and so on
• Startup India started in 2016, funds the start-ups and provides online training programs
• Make in India encourages the investors to invest and manufacture in India
• National Skill Development Mission, Digital India, Tread Related Entrepreneurship Assistance and Development (TREAD) assist in upskilling
• Pradhan Mantri Kaushal Vikas Yojana trains entrepreneurs
• Credit Guarantee Scheme supports the MSME sector to avail collateral free credit facilities

The “Atma Nirbhar Bharat Abhiyan” or “self-reliant India Mission” is aimed at making the Indian economy stronger but supporting the entrepreneurs.

Under the Small Industries Development Organization (SIDO) technological upgradation programmes are launched. The SIDO provides consultancy and marketing services, trains, and supports the SSIs to participate in the Government Stores Purchase Program.

The Small Industries Development Bank of India (SIDBI) provides financial support and helps in promotion of entrepreneurial businesses and the MSME sector.

MUDRA scheme, Mahila Udyam Nidhi, are some of the schemes under SIDBI supporting finances in MSME.

The micro credits are helping the unemployed citizens who lack collaterals to earn their livelihood and employ others as well.

Indian economy is now growing with the growth of MSME sector. The SSIs with Government assistance are bringing in economic reforms in India.

Hope the info helps you grow your business. Looking for more details? To know more or to send your feedback, don’t forget to email at contactareaderscorner@gmail.com