Madurai, Tamil Nadu: Prime Minister Narendra Modi spearheaded a transformative discourse at the ‘Creating the Future – Digital Mobility for Automotive MSME Entrepreneurs’ event, engaging with thousands of Micro, Small, and Medium Enterprises (MSMEs) in the automotive sector. This gathering witnessed the launch of two groundbreaking initiatives, the TVS Open Mobility Platform and the TVS Mobility-CII Centre of Excellence, aimed at bolstering the growth trajectory of MSMEs within India’s automotive industry.
Empowering MSMEs: A Vision for Viksit Bharat
Addressing the esteemed gathering, Prime Minister Modi lauded Tamil Nadu’s global eminence in technology, particularly in the automotive sector. He commended the event’s theme, highlighting its focus on fostering digital mobility for aspiring MSME entrepreneurs. The Prime Minister underscored the pivotal role of the automotive industry, contributing a significant 7 percent to the nation’s GDP, and emphasized its profound impact on manufacturing and innovation.
Harnessing Global Opportunities
In a resounding call to action, Prime Minister Modi urged MSMEs to embrace global standards of quality and durability, emphasizing the imperative of ‘zero defect-zero effect’ principles. Recognizing MSMEs as the backbone of India’s automotive ecosystem, he highlighted their indispensable contribution to manufacturing critical automotive components, echoing their presence in numerous Tier I and II cities across the nation. Moreover, he underscored the vast global potential for Indian MSMEs, stressing the opportunity to integrate seamlessly into the global supply chain.
Government’s Unwavering Support
Prime Minister Modi reaffirmed the government’s unwavering commitment to the upliftment of MSMEs, citing initiatives such as the PM Mudra Yojana, PM Vishwakarma Yojana, and the MSME Credit Guarantee Scheme. He underscored the facilitation of low-cost loans and working capital, coupled with an emphasis on technology adoption and skill development. Furthermore, he shed light on the recently launched PM Suryaghar Yojana for rooftop solar, aimed at providing free electricity and additional income to beneficiaries, alongside initiatives such as the Rs 26,000 crore Production Linked Incentive (PLI) scheme for auto and auto components.
Charting a Resilient Path Forward
Prime Minister Narendra Modi acknowledged the challenges confronting MSMEs, ranging from digitalization to market demand fluctuations, emphasizing the need for strategic resilience and innovation. He highlighted the government’s concerted efforts towards formalization, including amendments in the MSME definition, aimed at fostering growth and scalability.
A Call to Action
In his closing remarks, Prime Minister Modi rallied MSMEs to seize the multitude of opportunities emerging in the automotive sector, buoyed by the government’s steadfast support and conducive policy environment. He envisioned a future where Indian MSMEs thrive as global leaders, driving innovation, and competitiveness on the world stage. Concluding with assurances of government support, Prime Minister Modi reiterated his unwavering commitment to empowering MSMEs in their journey towards self-reliance and prosperity.
Union Minister of State, Dr. L Murugan, and Chairman of TVS Supply Chain Solutions Ltd, Shri R Dinesh, graced the occasion alongside other dignitaries, reaffirming the collaborative efforts towards realizing the vision of a vibrant and resilient MSME ecosystem in India.