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Work on quality, durability, live up to global standards, PM Modi tells MSMEs

The Prime Minister said this at the launch of CII-TVS Mobility Centre of Excellence on Employment and Livelihood, held in Madurai.
Last Updated 27 February 2024, 16:09 IST

Madurai: Noting that the country viewed the future of Micro, Small and Medium Enterprises (MSMEs) as the future of the nation, Prime Minister Narendra Modi on Tuesday urged the sector to work on quality and durability and live up to global standards.

For its part, the Centre was striving on multiple fronts to improve their resources from money to talent and initiatives like the PM Mudra Yojana and PM Vishwakarma Yojana were playing a huge role in this direction, he said.

Further, the government has given an impetus to infrastructure development in India through the PM Gatishakti National Master Plan for providing multimodal connectivity infrastructure.

"Today, the MSMEs have a huge opportunity to be part of the global supply chain. However, for this, our MSMEs have to work on its quality and durability. We need to work to live up to the global standards," the Prime Minister said at the launch of CII-TVS Mobility Centre of Excellence on Employment and Livelihood, held here.

The 'Creating the Future - Digital Mobility for Automotive MSME' aims to extend its support beyond the automotive sector.

"I once said from the ramparts of the Red Fort that we need to accept that our production should be of 'Zero Defect, Zero Effect' - in terms of technology and environment," Modi reminded at the event.

On his impression of the event, he said, "I feel like I have entered a laboratory that shapes the future. In the technology field, especially in the automobile industry, Tamil Nadu has proved itself on the global stage. I'm happy you named this event 'Creating the future''.

The Rs 26,000 crore Production Linked Incentive (PLI) scheme for auto and auto components, besides manufacturing, promoted hydrogen vehicles. This scheme helped to promote more than 100 advanced automotive technologies, he said.

"With the introduction of new technologies in the country, global investment associated with it will also come. It is going to be a huge opportunity for our automobile industry," the PM said.

He lauded the sector for its vital role during the Covid especially in winning the fight against the pandemic and said the country viewed the future of the MSMEs as the future of the nation.

The automobile industry with its huge share of around 7 percent of the GDP should speed up the country's economy and progress. Its role in promoting manufacturing and innovation was also huge, he said.

"In India, every year around 45 lakh cars are manufactured. Around 2 crore two-wheelers, 10 lakh commercial vehicles, and 8.5 lakh three-wheelers are also manufactured," he added.

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(Published 27 February 2024, 16:09 IST)

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