MSME Development Forum to organise India International MSME Startup Expo & Summit from Aug 25-27
The eighth iteration of the India International MSME Start-up Expo & Summit 2022 will take place at Pragati Maidan in New Delhi from the dates of 25th August to 27th August under the auspices of MSME Development Forum.
It provides an essential single global platform which would aid in networking and showcasing the MSME their goods and services in order to discover new markets, ideas, business possibilities, customers, raw materials, sellers, technology, etc.The expo will make it easier for people to exchange information on new laws, policies, and promotional schemes from the both the state and the central governments as well as host B2G, B2B, and B2C meetings on an easy way.
It will also serve as a platform for discovering new markets, new producers, services, goods or products, purchasers, vendors, franchises, importers, distributors, suppliers who are selling essential or other raw materials, entrepreneurs, and innovators, and such other aids including consultants among other things.
The summit will help to comprehend new business promotion policies, possibilities, and government/public-sector-owned enterprises (PSUs) in various states of the country India.
Exhibitor profiles include information on over 72 different types of stakeholders making it a bit wider array fulfilling the requirements of the MSMEs of the country.
Micro, Small, and Medium Enterprises is basically shortened and called as MSME. Micro enterprises are defined as any business with an annual sale of less than Rs. 5 crore and an investment in plant, machinery, or equipment of less than Rs. A small business is one where the initial investment is less than Rs. 10 crores and the yearly revenue is less than 50 crores.
Manufacturing, production, processing, and preservation of items are all activities carried out by micro, small, and medium-sized businesses. A microbusiness is one with an annual turnover of no more than RS. 5 crore and an investment in plant, machinery, or equipment of RS. 1 crore. A small business is one that has an annual turnover of less than RS. 50 crore and an investment in plant, machinery, or equipment of less than RS. 10 crore. A medium-sized business is one with an annual turnover of no more than RS. 250 crore and an investment in machinery and equipment of no more than RS. 50 crores.
MSMEs are responsible for a nation’s economic growth. They significantly contribute to raising a nation’s gross domestic product or the GDP and opening up employment opportunities. MSMEs make about 29% of the entire Gross Domestic Product (GDP) contribution of a developing country and economy like India. Additionally, they represent a third of the nation’s manufacturing output and 50% of India’s total exports.
MSMEs exist in almost every important sector in India. MSMEs are present in a number of industries, including food processing, chemicals and pharmaceuticals, along with engineering, textiles and apparel, biotechnology and much more.
Developing an economy is not easy as it involves a lot of conviction and contribution by each one of us to a better tomorrow.