The day highlights the contributions of small industries to India's growth, employment generation, and innovation, underscoring their status as the backbone of the country's economy.
India observes National Small Industry Day every year on August 30 to recognize the role played by small-scale industries (SSIs) in the nation’s economic landscape. The day highlights the contributions of small industries to India’s growth, employment generation, and innovation, underscoring their status as the backbone of the country’s economy.
The day was first observed on August 30, 2001, following a government decision made in the preceding year to promote the growth of small industries through a range of initiatives and policies. This included the launch of a comprehensive policy package aimed at strengthening the small-scale industry, marking a significant moment that led to the annual celebration of the National Small Industry Day.
For the uninitiated, the erstwhile Ministry of Small-Scale Industries and the Ministry of Agro and Rural Industries were merged on May 9, 2007 to form the Ministry of Micro, Small and Medium Enterprises. Celebrating the National Small Industry Day, the MSME Ministry on Thursday reiterated the economic significance of MSMEs.
“Complementing large industries, MSMEs have become integral to India’s inclusive industrial growth, offering a diverse range of products and services to meet both domestic and global market demands. National Small Industry Day 2024 is a moment to recognize and honour the enduring contribution of these enterprises to the nation’s progress,” the ministry said in a statement.
Highlighting the performance of the sector and various schemes of the government for MSMEs, the ministry noted a 30.1 per cent share of gross value added by MSMEs in India’s GDP and a 45.79 per cent share in all India exports.
The ministry further highlighted growth in Udyam registrations to 4.91 crore with 20.17 crore jobs reported, 16.19 lakh registered Vishwakarma applications as of August 23; 22,050 units set up under PMEGP scheme in FY24; public procurement worth Rs 82,431 crore during FY24 from micro and small units, and more.
The National Small Industry Day, however, differs slightly from the MSME Day celebrated every year on June 27 every year designated by the United Nations General Assembly (UNGA). The day is observed to enhance public awareness about the role of MSMEs in sustainable development and the world economy.
