Bhubaneswar, Apr 1 (KNN) Creating an ecosystem conducive to the functioning of Small and Medium enterprises (SMEs) and cottage industries is as important as facilitating large scale industries in giving a fillip to entrepreneurship, said Vice President of India.

He was speaking at the Summit on ‘Empowering Young Grampreneurs to Create Jobs’ organized by the Bharatiya Yuva Shakti Trust (BYST) here.

Addressing the summit, he advised young entrepreneurs to start businesses that promote India’s unique, traditional arts and crafts.

Opining that the rich craftsmanship was a key aspect of vibrant heritage of India, Naidu said that there was a need to reinvent and re-imagine ‘brand India’ and revive our dying industries.

He said “MSMEs contribute 6.11 per cent of manufacturing GDP and 24.6 per cent of services GDP. These industries which are often located in rural areas play a vital role in preserving India’s traditional skills and products such as handicrafts and handlooms.”

He also urged young businessmen to find the hidden strengths and advantages in rural India leverage them to provide livelihoods and raise standard of living of those living in remote areas.

On women empowerment, Naidu said that women empowerment should not only be a national goal but a global agenda.

Pointing out that women constitute only 14% of the total entrepreneurship i.e. 8.05 million out of the total 58.5 million entrepreneurs, Vice President said there is an urgent need to encourage more women to embark on the path of entrepreneurship.

On the occasion, Vice President presented awards for achievers in rural entrepreneurship and launched BYST Entrepreneur Online Learning in Odia.

Published On : 02-04-2019

Source : Knn India