Defence Minister Rajnath Singh Inaugurated ‘India Manufacturing Show’
Summit and Conference
4 min read
On November 02, 2023, Defence Minister Rajnath Singh inaugurated the 'India Manufacturing Show' in Bengaluru, Karnataka.
The exhibition is a three-day event jointly organised by Laghu Udhyog Bharti & IMS Foundation, with the support of the Department of Defence Production, Ministry of Defence.
About 'India Manufacturing Show'
- 'India Manufacturing Show' theme is ‘Make in India, Make for the World’.
- The sixth edition of the India Manufacturing Show offers a platform for exhibitors to showcase their latest technologies, equipment, and R&D across diverse sectors such as aerospace and defense engineering, automation, robotics, and drones.
- The event aims to bring together the best minds, technologies, and practices while providing ample opportunities for business and knowledge sharing among the participants.
About Laghu Udyog Bharati
Laghu Udyog Bharati is an all-India organization that has been registered to support Micro and Small Industries in India since 1994.
Today, Laghu Udyog Bharati has members throughout the country, with membership in over 400 districts and 250 branches nationwide.
The organization is working to address the various challenges faced by the MSE sector and to remove impediments that hinder the growth of MSEs. This is a genuine effort to organize the sector and promote its growth.
Micro and Small Medium Enterprises (MSMEs)
The Micro Small and Medium Enterprises Development (MSMED) Act 2006 addresses policy issues affecting MSMEs as well as the coverage and investment ceiling of the sector.
Micro and small medium enterprises (MSMEs) are recognized as the driving force behind economic growth and promoting equitable development worldwide.
MSEs make up over 95% of total enterprises in most economies and are responsible for creating the highest rates of employment growth.
They also account for a significant share of industrial production and exports, contributing over 45% of total manufacturing production and 40% of exports while employing 10 crore people.
In India, the MSME sector plays a pivotal role in the Atma Nirbhar Bharat Abhiyan.
It is a highly dynamic industrial sector that contributes to approximately 35% of India's manufacturing output. There is a vision to further increase the contribution of MSMEs to over 50% of India's GDP.
|
CLASSIFICATION |
Investment in Plant and Machinery or Equipment |
Annual Turnover |
|
MICRO |
Not more than Rs.1 crore |
Not more than Rs. 5 crore |
|
SMALL |
Not more than Rs.10 crore |
Not more than Rs. 50 crore |
|
MEDIUM |
Not more than Rs.50 crore |
Not more than Rs. 250 crore |
