Contribution of MSMEs in Making India-Atmanirbhar Bharat

Abstract

he Atmanirbhar Bharat Abhiyan also known as the self-reliant India Mission when the entire global economy was stuck in the clutches of the COVID-19 pandemic, at that time this mission was launched by Hon’ble Prime Minister PM Modi on 12 May 2020 with a new vision. This mission was helped in the wake of the COVID-19 pandemic to manage the economic disruption in the country. This mission came as a ray of hope in the darkness of this pandemic. The main objective of this mission is to promote self-sufficiency and reduce dependency on imports and also to make the country and its citizens self-reliant and independent in all senses. The growth of the MSME sector can be one of the key components of this mission because MSMEs play a crucial role in the Indian economy, they contribute significantly to the development of the Indian economy through exports, production, GDP participation, employment opportunities, innovations, and industrialization of rural areas. That’s why the growth of this sector is essential for India’s economic development which will help to make India self-reliant. Atmanirbhar Bharat Abhiyan has five pillars which are the Economy, Infrastructure, Technology driven system, Demography, and Demand. So, the present paper aims to explore the contribution of the MSME sector which will help make India self-reliant, and also discuss the five pillars of this mission.