President Inaugurates Udyam Sangam-2018 to mark UN SME Day

What: Udyam Sangam-2018

Where: June 27, 2018

Why: To celebrate UN Micro, Small and Medium-sized Enterprises Day

• The President Shri Ram Nath Kovind on June 27, 2018 inaugurated the Udyam Sangam-2018, organised by the Ministry of Micro, Small & Medium Enterprises (MSME) to celebrate the Second United Nations Micro, Small and Medium-sized Enterprises Day.
• On this occasion, the President also launched the Solar Charkha and MSME Sampark Portal.
• As per the President, the Udyam Sangam-2018 is an important effort in developing effective eco-systems for MSME sector.
• He noted that the Sangam will provide representatives of finance, training and educational institutions, industry, media, state governments and NGOs an opportunity to engage in extensive discussions to strengthen the eco-systems in this sector.
• According to the President the MSME sector is called the backbone of our economy. This sector is the second largest employment provider after the agricultural sector.
• MSME sector accounts for around 60% employment in India. There are 6.5 crore MSME units across the country employing over 11 crore people and contributing over 10% growth which is higher than heavy industrial units.
• This sector generates more employment opportunities at a lower cost of capital. And the most important thing about this sector is that it creates jobs in rural and backward areas. This sector could help in achieving the goal of inclusive growth through empowerment of weaker sections and decentralization of development.

Solar Charkha Mission launched

• The President of India launched the Solar Charkha Mission on this occasion which will cover 50 clusters and every cluster will employ 400 to 2000 artisans.
• The Mission has been approved by the Government of India for which the MSME Ministry will disburse subsidy of Rs. 550 crores to the artisans.

Micro, Small and Medium-sized Enterprises Day 2018

• The Solar Charkha Mission will generate employment in rural areas and contribute to the green economy.
• The UN General Assembly in its 74^th Plenary held on the 6^th April, 2017 declared 27^thJune as Micro, Small and Medium-sized Enterprises Day, recognizing the importance of Micro, Small and Medium-sized Enterprises in achieving sustainable development goals and in promoting innovation, creativity and sustainable work for all.