The contribution of micro, small, and medium enterprises (MSMEs) to India's economic growth is well-documented. A report by consultancy KPMG and industry body the Confederation of Indian Industry said the entities account for nearly 30 percent of India's gross domestic product and 45 percent of its exports.
MSMEs also play a vital role in socio-economic development, such as job generation (at 110 million), reducing inequalities, rectifying regional imbalances, and providing low-cost raw materials to support large industries and allied sectors.
The progress of less-developed regions and bridging the rural-urban divide depends on the robust health of the micro, small, and medium enterprises industries.
WHAT IS THE G20?
The Group of Twenty (G20) is an inter-governmental forum comprising 19 countries, which includes Argentina, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Turkey, United Kingdom, United States, and the European Union.
The G20 members represent around 85 percent of the global Gross domestic product (GDP), over 75 percent of the global trade, and about two-thirds of the world population. It was founded in 1999 after the Asian financial crisis as a forum for finance ministers and Central Bank Governors to discuss global economic and financial issues. G20 was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007. Then in 2009, it was designated the "Premier Forum for International Economic Cooperation".
WHAT CAN THE G20 OFFER?
Diese Geschichte stammt aus der March 2023-Ausgabe von The Machinist.
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Diese Geschichte stammt aus der March 2023-Ausgabe von The Machinist.
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SIMPLE AND SECURE NETWORKING: UMATI CONNECTS THE MACHINE PARK AT UNITED GRINDING
The UNITED GRINDING Group serves a diverse customer base, ranging from small businesses to large corporations, across industries including automotive, aerospace, tool and die, and precision mechanics.
OUR AI-ENABLED PLATFORM ADDRESSES THE CHALLENGES POSED BY THE RETIRING WORKFORCE
In an interview, Vivek Joshi, Co-founder and CEO of Entytle, discusses their Al-enabled platform addressing OEM workforce challenges by automating the knowledge of retiring employees, reducing reliance on slow recruitment. He also explains how the platform preserves institutional knowledge, cleans and unifies data, and identifies growth opportunities, mitigating risks from unfilled positions.
INDIA'S DEFENCE EXPENDITURE AND DEVELOPMENT: FROM INDEPENDENCE TO ATMANIRBHARTA
India’s journey from a nascent post-independence state to a burgeoning global power in defence is a testament to strategic foresight, policy perseverance, and the indomitable spirit of self-reliance. Over the decades, India has gradually shifted from reliance on foreign defence supplies to fostering a robust indigenous defence manufacturing sector, aligning with the broader vision of Atmanirbharta.
ADI'S VISION FOR BMS GOES BEYOND MANAGING BATTERY CHARGE
Analog Devices India ADI) is pioneering advanced battery management systems (BMS) that revolutionise e-mobility. Vivek Tyagi, Managing Director, Field Sales at Analog Devices India, shares the company’s vision for BMS in electric vehicles and its R&D efforts in India.
NEW DEVELOPMENT BENCHMARKS IN MILLING
A look at recent advancements from ISCAR that will have profound impacts on the future direction of milling.
WE AIM TO DOUBLE OUR REVENUE TO RS 6,500 CRORE BY 2025
Kirloskar Oil Engines Ltd. KOEL), a dominant player in diesel engines and generator sets, is setting its sights on doubling its revenue from Rs 3,200 crore to Rs 6,500 crore by 2025. As the company marks 75 years in the industry, in an exclusive interaction, Rahul Sahai, CEO, Kirloskar Oil Engines Ltd KOEL), reflects on its legacy and ambitious plans. With a strong market share of 30 per cent in the diesel generator market, KOEL’s success is rooted in continued investments in technology and infrastructure. Edited excerpts:
TRITON WILL BE RS 500 CR COMPANY IN THE NEXT 3-5 YEARS
In an interaction Jitendra Srivastava, CEO, Triton Logistics Maritime Private Limited spoke about the company’s plans, collaboration and technology adoption in the logistics sector. Edited excerpts...
LEADING THE TRANSITION TO A GREENER, MORE EFFICIENT FUTURE
In an interview with Saishree Mohanty, Anirudh Bhuwalka, CEO of Blue Energy Motors, discusses the company’s efforts to revolutionise India’s trucking industry with LNG-powered vehicles, sustainability initiatives, and future growth plans.
UNVEILING THE PATH TO AI-DRIVEN MANUFACTURING EXCELLENCE IN INDIA
As the industry delves into AI and cloud computing, the article explores the many challenges and opportunities that will influence the future of Indian manufacturing.
DIGITALISATION AND THE POWER OF SAAS FOR SMALL AND MEDIUM ENTERPRISES
As small and medium enterprises SMEs) face increasing pressure to innovate and accelerate time-to-market, adopting digital transformation is crucial. Leveraging Software as a Service SaaS) offers SMEs an affordable, scalable solution to streamline operations, boost productivity, and remain competitive in today’s fast-paced market.
