This can be achieved by increasing the proportion of domestically manufactured components, he said in his address at the CII MSME Growth Summit here.
"Manufacturing will play a major role in the structural transformation of the Indian economy and electronics will be a key sector driving this transformation. We must increase domestic value-addition in electronics from 18-20 per cent to 35-40 per cent in the next few years." Five years,” Krishnan said.
“MSMEs will play a vital role in this effort and will have a huge role in manufacturing electronics components.”
He emphasized that digitalization can prove to be a game changer for the MSME sector. Adoption of technology by smaller players through cluster-based facilities and retrofitting of existing facilities are cost-effective ways for the sector to go digital.
Underscoring the importance of digital economy, he said MeitY is working to assess the size of the digital economy in the country.
Dr. Ishita Ganguly Tripathi, Additional Development Commissioner, Ministry of MSME, highlighted that there is a need to increase the participation of women in registered MSMEs from 39 percent. She stressed on leveraging the “7 As” to empower women: availability, accessibility, affordability, awareness, accountability, alliance and achievement.
He said that educating MSMEs about regulatory requirements and ESG compliance is essential for their sustainable growth.
T Kosi, Managing Director and CEO, Open Network for Digital Commerce (ONDC), said the government and large enterprises can play an important role in supporting MSMEs and MSMEs should take advantage of the digital ecosystem.
He said the network is also adding insurance as a new component that will appear soon.
"Manufacturing will play a major role in the structural transformation of the Indian economy and electronics will be a key sector driving this transformation. We must increase domestic value-addition in electronics from 18-20 per cent to 35-40 per cent in the next few years." Five years,” Krishnan said.
“MSMEs will play a vital role in this effort and will have a huge role in manufacturing electronics components.”
He emphasized that digitalization can prove to be a game changer for the MSME sector. Adoption of technology by smaller players through cluster-based facilities and retrofitting of existing facilities are cost-effective ways for the sector to go digital.
Underscoring the importance of digital economy, he said MeitY is working to assess the size of the digital economy in the country.
Dr. Ishita Ganguly Tripathi, Additional Development Commissioner, Ministry of MSME, highlighted that there is a need to increase the participation of women in registered MSMEs from 39 percent. She stressed on leveraging the “7 As” to empower women: availability, accessibility, affordability, awareness, accountability, alliance and achievement.
He said that educating MSMEs about regulatory requirements and ESG compliance is essential for their sustainable growth.
T Kosi, Managing Director and CEO, Open Network for Digital Commerce (ONDC), said the government and large enterprises can play an important role in supporting MSMEs and MSMEs should take advantage of the digital ecosystem.
He said the network is also adding insurance as a new component that will appear soon.
