MSMEs, short for Micro, Small, and Medium Enterprises, contribute significantly to any country’s socio-economic development. In India, mainly, MSMEs have gained increasing significance because of the contribution they make towards India’s GDP and exports. Also, the thrust that they provide to entrepreneurship development in the rural and semi-urban areas has earned them the country’s respect. As per the MSME ministry updates, the MSME registration figure has gone up from 21.21 lakh units in 2019 to 25.13 lakh units in 2020. In this article we will discuss, BHEL to procure 300 products worth ₹3,000 cr from MSMEs
India’s Prime Minister has set a target of USD 5 trillion for the Indian economy to achieve over the next five years. To achieve the same, the Government is working tirelessly towards developing MSMEs in India to their full potential. The Government of India has ushered in several schemes such as the one-page online MSME registration based on self-certification, MSME databank, and the My MSME mobile app to help MSMEs.
BHEL to procure 300 products worth ₹3,000 cr from MSMEs
The Indian Government’s MSME development plan and the thrust on local manufacturing as part of the ‘Make in India’ campaign have inspired the state-run BHEL to procure 300 products worth ₹3,000 cr exclusively from MSMEs annually.
The BHEL Executive has informed that the Government’s thrust on critical sectors such as railway electrification, e-mobility, renewables, energy conservation has opened up many opportunities for local manufacturing.
A large number of transformers, inverters, solar panels, LEDs, batteries and battery chargers, power conditioning units.
BHEL’s Online Technology Platform – Sanrachna
The size of India’s Electrical machinery industry is just about USD 50 billion, far lower than the USD 200 billion targets set under the industry’s 2012-22 mission plan.
Recently, a webinar on ‘Reigniting Manufacturing Growth through MSME Development – Electrical and Electronic sector’ was organized by MVIRDC World Trade Center, Mumbai, and All India Association of Industries.
Officials has observed that India’s electrical machinery exports stood at USD 8.5 billion, a mere 2% of the segment’s total global trade. He further added that the industry has grown at a CAGR of 32% since 2015-16, which is a good sign. Speaking at the same event,
Further, informed that BHEL has launched the Sanrachna Online Technology Platform to help the domestic industry overcome problems associated with infrastructure, technological innovations, and resources.
The GOI’s various initiatives, schemes, and programs have so far been working successfully to promote MSME growth. Moreover, support from state-run organizations like BHEL will go a long way in ensuring that more and more budding entrepreneurs take to these industries.
In case, you require any kind of guidance related to the MSME Registration or Udyam Registration, please feel free to contact our business advisors at 8881-069-069.
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