National Small Industries Day

Tags: Important Days

National Small Industries Day is celebrated every year across the country on 30th August to support and promote small industries for their overall growth potential and the opportunities they get for their development in the year.

IMPORTANT FACTS -

• It is an annual festival dedicated to encouraging small businesses across the country.

• The day is celebrated with an aim to encourage small businesses and provide job opportunities to the unemployed.

Background :

• National Small Industry Day finds mention in its celebration since 2000 when the then government decided to give an expanded policy package to Small Scale Industries (SSI).

• On August 30, 2000 the Ministry of Small Scale Industries announced that every year this day will be celebrated as National Small Industry Day.

• World MSME Day is celebrated every year on 27 June by the United Nations.

• The theme of World MSME Day for the year 2022 is 'Resilience and Rebuilding: MSMEs for Sustainable Development'.

Initiatives related to MSME Sector :

• The Micro, Small and Medium Enterprises Development Act was notified in the year 2006 to address policy issues affecting MSMEs as well as the coverage and investment limits of the sector.

• Prime Minister's Employment Generation Program (PMEGP) :- It is a credit linked subsidy scheme for setting up new micro enterprises and generating employment opportunities in rural and urban areas of the country. Commencement - 15 August 2008

• Scheme of Fund for the Upliftment of Traditional Industries (SFURTI) :- Its objective is to organise artisans and traditional industries into clusters and thus provide financial assistance to make them competitive in the current market scenario.

• Credit Guarantee Scheme for Micro and Small Enterprises :- Under this scheme launched to facilitate easy flow of credit, guarantee cover is provided for collateral free loans given to MSMEs.

• Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS) :- It aims at facilitating technology up-gradation to Micro and Small Enterprises (MSMEs) by providing 15% capital subsidy for purchase of plant and machinery.

• CHAMPIONS Portal :- It aims to help Indian MSMEs to establish themselves as national and global champions by resolving their grievances and providing them encouragement, support.