'Our MSMEs have great opportunity to be part of global supply chain', says PM Modi

'Our MSMEs have great opportunity to be part of global supply chain', says PM Modi

Prime Minister Narendra Modi addressed MSME entrepreneurs in Madurai, highlighting the opportunity for MSMEs to join the global supply chain. He emphasized the role of MSMEs in the automotive industry and the importance of skill development. Modi also launched initiatives to support the automotive MSME sector. Tamil Nadu has been praised for its achievements in the automotive industry.

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FAQs - PM Modi on MSMEs and Global Supply Chains

Frequently Asked Questions (FAQs)

FAQ 1: What did PM Modi say about MSMEs' role in global supply chains?

Answer: PM Modi highlighted the significant opportunity for Indian Micro, Small, and Medium Enterprises (MSMEs) to integrate into the global supply chain.

FAQ 2: How are Indian MSMEs prepared to join the global supply chains?

Answer: During the COVID-19 pandemic, the capabilities of Indian MSMEs were showcased to the world. With their adaptability and potential, they are well-positioned to be part of the global supply ecosystem. Additionally, the government has been taking measures to facilitate their participation.

FAQ 3: Are there any particular sectors where Indian MSMEs can contribute globally?

Answer: Indian MSMEs can contribute across various sectors. The Textile and Apparel sector, for example, is one area where they can play a significant role, as suggested by PM Modi’s participation in National Handloom Day celebrations.

FAQ 4: What challenges do Indian MSMEs face in joining global supply chains?

Answer: Despite the opportunities, Indian MSMEs face challenges such as protectionist measures that can restrict the expansion of bilateral trade and make it more challenging for them to join global supply chains.

FAQ 5: What initiatives have been taken by the Indian government to support MSMEs in global integration?

Answer: The government has been pursing policies for creating secure and trusted telecommunications, resilient supply chains, and enabling an environment conducive for business. Initiatives like promoting sustainable global value chains during India's G20 Presidency indicate a focus on global economic integration.

FAQ 6: How does the Indian government view sustainable development in regards to global supply chains?

Answer: PM Modi has stressed India's G20 Presidency as a platform to show the way for a more sustainable global economy, which includes promoting sustainable supply chain practices. The government's interest in green energy such as harnessing green hydrogen also signals a move towards sustainable development.

FAQ 7: What message has PM Modi conveyed to global CEOs regarding India's role in global supply chains?

Answer: PM Modi urged global CEOs to adopt an inclusive and sustainable approach and to consider investing in India to contribute to an efficient and resilient global supply chain, especially in light of past disruptions.

Please note that these FAQs are drawn from the information available in the provided context and may not cover all the details of PM Modi's statement or subsequent policies and actions. For detailed insights, you may refer to the source of the information reported by United News of India.