Role of MSMEs in Building the Indian Economy
The current news doing the rounds is about India slipping to 7th in the list of largest economies of the world. The mission of the present government is to bring it up 2 levels to be the 5th largest economy.
In this context, let us see what role MSMEs play to help achieve this objective.
MSMEs have brought about equality of income and balanced regional development. They are more efficient, in spite of smaller investments, in providing greater employment opportunities. At present, it is estimated that SMEs are generating 80 million employment opportunities; contribute 8% of the GDP; 5% of total manufacturing output and 40% of total exports from the country. MSMEs account for more than 80% of the total industrial enterprises in India, creating more than 8000 value added products.
While large enterprises created islands of prosperity in an ocean of poverty, small enterprises provided equitable growth, brought industrialisation everywhere from urban to rural and backward areas. Small industries also help the large in industries by supplying them ancillary products.
When it comes to engineering and environmental products like incinerators, most of the manufacturers are in the MSME sector. With limited opportunities within the country due to restrictive regulations, written and unwritten, these industries have to look outside the country for business. In our operation, 60 to 70% of our production is exported.
In spite of many hurdles, MSMEs are able to produce products comparable to the best in the world and contribute to nation building.
We at Haat Incinerators have achieved certain mile stones which include:
• More than 25 different models in our incinerator product line
• Nearly 600 installations of incinerators all over the world
• Presence in 40 countries
• First company in India to be certified for IMO Marine incinerator
• ISO 9001, 140001 and 18001 certifications
• More than 2 decades in the manufacture of Incinerators and Operation of Common Hazardous Waste Incinerator facility.
• Strong Design, Projects, QC, Production and Service teams
We are continuing our mission for a `clean environment` with `engineering solutions for burning issues’. Read more here – Our Mission.