Delivering a virtual keynote address at ET MSME Awards 2023, he said he is pleased to see that exporters are also being awarded for their contributions. “Forty-five per cent of the country’s industrial output and 40% of the total exports are done by MSMEs, demonstrating their indispensable role. It’s, therefore, fitting that ET Digital should reward the excellent MSMEs that power the country’s economy,” he said.
The award ceremony, recognising the country’s top MSMEs in 26 categories, was held on December 8 in Delhi. This was the fourth edition of the ET MSME Awards, which is built on its earlier avatar, ET Top MSME Rankings.
The minister lauded the MSME sector’s contribution to nation building. These companies have provided employment to millions of Indians and this demonstrates the weight of the economy rests on their shoulders. He pointed out that there are between 60 and 70 million micro, small and medium enterprises in the country, and these businesses are rightly called the backbone of the economy.
“This government, led by Shri Narendra Modi, places a lot of importance on MSMEs and it is heartening to see the role MSMEs are playing in nation-building,” he said.
Sonowal said the fourth edition of ET MSME Awards saw over 10,000 self-nominations this year that went through a very detailed scrutiny of the application. Talking about initiatives from his ministry, he said that over the last 9 years it has worked tirelessly to strengthen trade through maritime routes.“Our initiatives — the flagship programme of Sagarmala, our transformative initiative in the inland waterways sector, cruise tourism sector, coastal shipping modernisation and mechanisation of the sector, reforms in legislation and international cooperation — have created a harmonious ecosystem and propel the Indian maritime sector to global height,” he said in the recorded message.
The objective of the Sagarmala project, which was launched in July 2015, had been to reduce logistics cost for EXIM and increase domestic trade with minimal infrastructure investment. It is also aimed at developing coastal economic zones and providing employment opportunities. The project looks at leveraging India’s waterways and its 7,517-km coastline to enhance domestic and global supply chains.
The minister congratulated every winner and nominee in the gathering, and said the participants deserve an applause for being resilient and creating economic benefits.
The award function saw a gathering of various MSMEs, industry stakeholders, entrepreneurs, promoters and leaders. It also hosted fireside chats and brainstorming sessions.
The awards programme is an initiative of ET Digital, in association with Airtel Business as technology partner, Northern Arc as the silver partner and CareEdge as the knowledge partner.
