MSME sector is a nursery of entrepreneurship: Muniyappa

NEW DELHI, INDIA: The Minister for Micro, Small & Medium Enterprises, K. H. Muniyappa inaugurated the Indian School for Entrepreneurs and Enterprise Development iSEED here today.

Speaking at the inauguration the Minister stated that in the present competitive world, Innovation driven Entrepreneurship is critical for the growth of the Indian economy.

"Worldwide, the micro small and medium enterprises (MSMEs) primarily driven by first generation entrepreneurs have been accepted as the engine of economic growth and for promoting equitable development," he added.

"The MSME sector is a nursery of entrepreneurship, often driven by individual creativity and innovation," said Muniyappa.

To enable Indian youth in entrepreneurship and innovation, the Minister emphasized that the MSME ministry is conducting Skill Development Programmes for the entire value chain of manufacturing.

10 Tool Rooms under the Ministry are providing both long and short-term training for more than one lakh person the Minister highlighted.

The Minister also said that, Entrepreneurship has a large role to play in employment creation. Therefore, the goals of MSME's skill building initiatives include encouragement and promotion of indigenous entrepreneurship from all walks of life.

According to the Minister, the Ministry of MSME is supporting the efforts of State Governments / Union Territories, Industry Associations, Financial Institutions, Technical/ Management Institutions, other Non-Governmental Organizations (NGOs), etc. for establishment of new training institutions.