‘MSME are the key stakeholder in rebuilding the nation and it is our fortune that our great Leader hon’blele Prime Minister Shri Narendra Modi is heading at present who can build confidence among people’, said Shri Pratap Chandra Sarangi, Hon’ble Minister of State for MSMEs, Government of India. He was speaking at an e-conference on Transitions in MSMEs for Industry 4.0 organized by the Indian Chamber of Commerce.

Hon’ble Minister Shri Pratap Sarangi said that to describe the current technology in the field of automation and data analytics  is the fourth stage of industrial revolution that has come as Industry 4.0. He further added that Industry 4.0 is integration of several technologies for advanced industry, like Smart system can connect with physical devices into cyber network to allow the collection of data, Internet of things is very similar to CTS. This is the addition of electronic devices and sensors for the data collection analysis and automatic decision.

One of the most visual impacts of industry 4.0 is Internet of things. IOT and collective devices data from one circulated source is 38.5 Million in 2020, a jump of 285 percent from 13.4 million in 2015.

He also mentioned that to revive our economy Prime Minister has taken several steps in which MSME has a share of Rs. 3,70,000 Crores for stranded accounts as an automatic loan without any collateral to be able to reorganize and restructures businesses.

Dr. G.B.K Rao, Chairman Expert Committee – Southern Council, ICC said ‘MSMEs are the backbone Sector to determine the future of India especially the RURAL INDIA.  MSMEs are contributing more than 30% to India’s GDP and accounts for 50% of Indian Exports. However, MSMEs are struggling with several issues that are hindering their very survival. Lack of adequate and timely access to finance has been the biggest challenge for MSMEs and their growth prospect. The dream of “Make India” will come true only with the strengthening of MSME Sector’.

Other eminent dignitaries who graced the session were Mr. Yerram Raju, Advisor to Government of Telangana, Ms. S. Glory Swarupa, Director General, ni-msme and Mr. Rajiv Reddy, chairman – Southern Council, ICC.