Bengaluru: Defence Minister Rajnath Singh inaugurated the three-day ‘India Manufacturing Show’ in Bengaluru on Nov 2. The show has been jointly organised by Laghu Udhyog Bharti and the IMS Foundation and supported by the Department of Defence Production under the Ministry of Defence.
The central theme of the event is ‘Make in India, Make for the World’. The sixth edition of the ‘India Manufacturing Show’ will provide a platform for the exhibitors to showcase their technologies, equipment and R&D in different sectors, such as aerospace & defence engineering, automation, robotics & drones to the participants.
Addressing the industry captains and young entrepreneurs present at the inaugural function, Defence Minister Rajnath Singh 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.
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.
The minister remembered the time when India was called ‘golden bird’ and a big reason was that there were many small industries in villages and towns, which provided employment to the people. “In ancient times, there were no large-scale industries in India; they were only small industries. Textile, iron and shipbuilding were the three industries for which India was known all over the world. They showcased our industrial capability,” 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 minister 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.