New Delhi: Defence Minister Rajnath Singh inaugurated the three-day ‘India Manufacturing Show’ in Bengaluru, Karnataka on November 02, 2023. The show has been jointly organised by Laghu Udhyog Bharti & IMS Foundation and supported by Department of Defence Production, Ministry of Defence. The central theme of the event is ‘Make in India, Make for the World’.
Addressing the industry captains & young entrepreneurs present at the inaugural function, the Raksha Mantri described the small-scale industries as the backbone of India’s economy that contribute immensely to the development of the nation. “Small industries are the motor of the Indian economy. The faster the motor runs, the quicker the vehicle of the economy moves,” he said, also crediting the small industries for maintaining stability in the economy.
Rajnath Singh highlighted the important contribution of these industries to the socio-economic development of the country. “Compared to investment made, small industries create more employment opportunities than large industries. They also ensure a more even dispersion of wealth in society. Many MSMEs are doing well in exports and are becoming a part of the global supply chain of the world’s biggest companies. Heavy industries, too, play a big role in the nation’s development, but the country cannot fully progress by ignoring small industries,” he said.
Singh also underlined the ability of small industries to adapt to the changes more easily than large industries. “It is the adaptability of small industries which increases the possibilities of innovation. Many times, small industries bring more innovation than large industries in terms of new products, services and business models,” he said.
The Raksha Mantri recalled Father of the Nation Mahatma Gandhi’s philosophy on economy, wherein he encouraged to focus on small industries rather than heavy industries. This is due to stronger connections of small industries with local communities. Even though their production scale is small, they are better tuned to local needs, he said.
Rajnath Singh added that big industries, which have a turnover of thousands of crores, were once small industries, which reflects their importance. He termed the small-scale industries as the youth of industrial development; which possesses more energy, innovation and the ability to create something new. He emphasised that drawing focus towards small industries does not mean undermining the importance of heavy industries. He termed the relationship between the two as symbiotic, with both depending on each other for their profitability.
The sixth edition of ‘India Manufacturing Show’ will provide a platform to the exhibitors to showcase their technologies, equipment and R&D in different sectors, such as aerospace & defence engineering, automation, robotics & drones to the participants. The aim is to bring together best minds, best technologies and best practices while providing business and knowledge sharing opportunities for its participants.
Agencies

KR Desk