MSME Ministry Current Affairs - 2019

Category Wise PDF Compilations available at This Link

Centre to introduce rating system for SMEs for easy loans

Centre is considering a proposal to introduce a rating system for small and medium enterprises (SME) to help them get credit easily. The announcement in this regard was Union Minister for Road Transport and Highways (MoRTH) Nitin Gadkari while addressing women entrepreneurs in Chennai.

Key Highlights

Need: The Central government is making all efforts to reduce finance costs and power price to SME industry so as to help them tackle the prevailing sense of gloomy industrial scenario. This dull industrial scenario is due to the business cycle, demand and supply issues and a global downtrend.

Steps Taken: With the Central Government fixing a target of generating 5 crore more jobs in MSME sector in the next 5 year, the Centre is in the process of introducing a national portal for Micro, Small and Medium Enterprises (MSMEs) to market their products easily.

27 June: International MSME Day

The Micro, Small and Medium-sized Enterprises Day (MSME) Day was celebrated across the world on 27 June. The theme for MSME Day 2019 was ‘Big Money For Small Business: Financing the SDGs’.

Theme SME Day 2019Big Money For Small Business: Financing the SDGs. It is dedicated towards raising awareness of need for greater investment into small and mid-sized businesses in developing countries and celebrate gigantic contribution which smaller companies make to global economy.

Global Celebration

With the aim of overcoming challenges faced by MSME, the International Trade Center, (a United Nations’ entity) that works in internationalization of micro and SMEs on occasion of MSME Day 2019 launched its flagship report tilted- The SME Competitiveness Outlook 2019: Big money for small businesses.

Celebrations in India

To observe the International MSME Day, Union Ministry of Micro Small and Medium Enterprises organized an international convention on theme- Indian MSMEs, Global Aspirations, in New Delhi.

Moreover, as part of continued celebrations of MSME day, the 2nd edition of International SME Convention 2019 is scheduled to be held from 28- 29 June 2019.

100 SMEs (Small and medium-sized enterprises) selected by a jury from among 34011 nominations received from across India are also being felicitated under the aegis of 6th Annual India SME 100 Awards, which is India ‘s most prestigious annual awards initiative for small and medium enterprises.

About UN MSME Day

United Nations General Assembly (UNGA) in its 74th Plenary meeting held on 6 April 2017 declared 27 June to be observed as Micro, Small and Medium-sized Enterprises Day so as to recognizes importance of MSME in achieving sustainable development goals (SDG’s) and in promoting innovation, creativity and sustainable work for all.