The MSME sector has emerged as a highly vibrant and dynamic sector of the Indian economy in the post-independence era. Following statistics reveal the true spirit of MSMEs of India:
MSMEs not only play crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth.
Though this sector is an important industry enabler, it is prone to many critical issues and challenges which require strong policy advocacy and representation at the state as well as national level. Central government’s important initiatives like ‘Make in India’, ‘Digital India’ and ‘Smart Cities’ have tremendous opportunities for the MSMEs in the IT sector. It goes without saying that MSMEs need a strong platform and support to be competitive with large and multi-national enterprises.
To develop and harness indigenous technology across the IT sector, various industry stakeholders, industry bodies and associations, academia, government and large enterprises – need to come together to propel IT MSMEs one notch up in the value chain by focusing on IT services through digital capabilities, research and innovation, education, manufacturing, etc.