An Insightful session with Mr Gopinath Rao, Assistant Director, Ministry of MSME | Fashion Department

 JD Institute of Fashion Technology, Bangalore, had organized a talk session on MSME (Micro, Small and Medium Enterprises) by Mr. Gopinath Rao, Assistant Director, MSME DI, Bangalore, Govt. of India; for the BSc in Fashion Design and Diploma in Fashion Design students on 21st and 22nd August 2019. The objective of the session was to raise awareness about the importance of the Ministry of MSMEs and how students could benefit from the various offerings by the ministry.

The session commenced with an introduction about MSME, wherein the speaker educated the students about Micro, Small and Medium Enterprises (MSME) sector, its emergence in India and how it has impacted the Indian economy along with local businesses and women entrepreneurs.

The objective of the Ministry of Micro, Small & Medium Enterprises is to promote, develop and nurture Indian MSMEs.

Mr. Rao, went onto add that the Indian Government is the biggest supporter of MSME and is a part of  WTO (World Trade Organization) since 1st January 1995. The move to be associated with WTO was to integrate the domestic economy, with the world economy. These enterprises form the backbone of the economies and play an important role in developing countries. The talk further elaborated the various schemes, consultancy, and training imparted by the Ministry of MSME. Apart from talking about the various offerings, Mr. Rao also shared a couple of important points with students to make them aware of the importance of availing support from government-funded schemes. MSME Ministry also provides consultancy to hone skills and impart holistic development of an entrepreneur.

Apart from the requisite information for an entrepreneur, he also emphasized that one can be an effective entrepreneur when we broaden our horizons concerning everything that is happening around us and not just limited to our ventures. Entrepreneurs also need to keep a tab on competition and be on the lookout for opportunities, in other industries as well. Given that information is readily available nowadays, it is easy to gather data about our sector of interest and other sectors as well.

Major services of the MSME:

• Consultancy
• Economic information
• Entrepreneurship Development
• Marketing Assistance
• Technology and Quality Up-gradation

The State of World Population 2019 report, by the UN stated that India’s population stood at 1.3 billion and an article in India Today published on 30th May 2019, stated that 65% of the population of India is below 35 and with an average age of less than 29 and that is the reason why it is touted as the youngest country in the world. The young population of India is its biggest asset and in order to realize the true potential its youth should participate in the growth and economy of the country by taking advantage of the very many outlets, provided by the government.