Industrialization and industries are a huge part of any country. It majorly constitutes the small scale industries. Hence to recognize and aware o
Industrialization and industries are a huge part of any country. It majorly constitutes the small scale industries. Hence to recognize and aware of the importance of all the small scale industries in a country’s economy, we celebrate today as National Small Scale Industries Day.
Let us have a look at it.
Small Industry Day 2020
Small scale industries are those industries in which the manufacturing, production, and rendering of services are done on a small or micro scale. These industries make a one-time investment in machinery, plants, and industries, but it does not exceed Rs 1 Crore
Small Industry Day 2020 – On the 30th of August, National Small Industry Day is observed each year to commemorate as a part of its effort to provide balanced growth to existing small, medium, and large scale enterprises to support and promote small industries.
Role and Objectives Of National Small industries
The small scale industry accounts for almost 40% of the total goods and services produced in the Indian economy. The industry has an opportunity to earn wealth and provide employment to other people. The role and objectives of small scale industries are given below:
Employment: SSI provides employment for everyone across the nation. Due to the limitation of technology and scarce resources, they tend to use manpower and labor for production activities.
Total production: The enterprises account for about 40% of the total production in goods and services in India. They are one of the reasons for uplifting and strengthening of the economy
Make in India: SSI’s are the best examples for this initiative that focuses on the mission to manufacture products in India and sell it worldwide
How is National Small Industries Day observed?
The national small industry day is celebrated in a different theme every year.
Innovative product designs are displayed in exhibitions.
Educative lectures and awareness camps are organized all over the country.
National small industry day as a part of Our India- Our pride event Himalai wants to create awareness about the importance of small scale
Facts about National Small Industries:
Small scale industries are privately owned by small corporations or manufacturers with limited resources and manpower.
Contributes to the local employment opportunities
Increases industrial production and exports which an important impact is made in the Indian Economy.
Small scale industries make an investment in machinery, plants at once, which does not exceed INR 1 crore.
“A big business starts small.”
The moral of the quote is, before hitting it big, you have to start small. You have to build your way up, making strong foundations so that when you’re finally at the top, you could stay there.