The MSME sector is no doubt one of the biggest contributors to the Indian economy. With several schemes in place to help boost growth and development in the MSME sector, even the government is fully aware of the potential of this vast segment.
The government’s efforts to develop the MSME sector have somehow fallen short. The new policies that are approved are not implemented properly leading to a rift between the policy makers and affected industries.
SME owners have expressed that the policy makers are scarcely aware of the needs of the industry, according to an article in SME Times.
The current industrial workforce in the SME sectors have made it clear that what the industry requires most is highly skilled labour for the various sectors within the industry
The government has made no provisions to cater to the need of educating the workforce in the special skills required by the industry and has left the industry less than satisfied with the government’s evelopment plans for the MSME sector.
There is a national policy on skill development but implementation of this policy has been inadequate. The government plans to train 15 million people in specialized skills by 2022. This task will require more than just the setting up of training centres. The industry will require extensive reforms for the training centres to have any desirable effect on the workforce for the MSME sector.
Our country is greatly driven by the results of a general academic education. For any of the government policies to be effective, vocational centres that provide incentives for enrolling in specialized courses need to be set up.
The government needs to invest in infrastructure, proper educational materials and good teachers to encourage students to join the courses at the training centres.
Another key factor is ensuring that innovation and R&D activities are made priorities for the MSME sector, for them to remain competitive in the global market.
If the government looks into these key factors while creating these policies for growth and development in the MSME sector, the industry has the potential to provide more job opportunities, create quality products and add more to the growth of the Indian economy.