The Union Government has given a big boost to micro, small, and medium enterprises (MSMEs) in the country by not only bringing them into the defence manufacturing supply chain but also enabling them to tap export opportunities over the past several years, said Nirmala Sitharaman, Minister of Finance and Corporate Affairs.
She fielded a range of questions during an interaction with AM Jain College students here on Friday. She discussed topics such as the economy, defence, MSMEs, employment and women empowerment.
ussing defence production and exports, she said a lot of emphasis was being given to local manufacturing to meet the armed forces requirement and MSMEs were being engaged as part of the self-reliance programme. MSMEs are empowered to meet the quality requirements of defence through certifications.
“Due to several policy reforms for the integration of MSMEs and start-ups into the supply chain, there has been almost a 200 per cent increase in the number of defence licences issued to the industries in the last 7-8 years by the government,” according to official information.