National Small Industry Day 2023: Theme, History, Significance and why it is celebrated on August 30?
National Small Industry Day 2023 is observed in India every year on August 30 to encourage and shape government policies to enhance the efficiency of the small-scale sector. Check National Small Industry Day 2023 theme, history, significance, and why the day is celebrated on August 30.
National Small Industry Day is observed every year in India on August 30 to recognize the significance of and the contribution of the small industries in India. National Small Industry Day 2023 aims at encouraging the development and growth of small-scale businesses that contribute as much as 40 percent to the gross industrial value of India’s economy. The advent of the National Small Scale Industry Day can be traced back to August 2000 when the Government of India formulated a comprehensive policy package for the small-scale industries in the country.
Check National Small Industry Day 2023 theme, history, significance, and why the day is celebrated on August 30.
What are Small Industries?
Small Scale Industries are those industries in which the manufacturing, production and rendering of the services are done on a small or micro scale. Small Industries make a one-time investment in the machinery, plant, and equipment, however, it does not exceed Rs. 10 crores and the annual turnover does not exceed Rs. 50 crores.
National Small Industry Day History
Small Industry Day in India can be traced back to August 2000 when the Government of India announced a comprehensive policy package for the small-scale industries in India. It was decided by the Ministry of Small Scale Industries that the National Small Industry Day will be celebrated every year on August 30 in India.
The Central ministry for the very first time on August 30, 2001, organised a convention for the entrepreneurs in the small-scale industry in New Delhi, and along with that also held an event to present the National Awards.
The convention started with the inauguration ceremony which was followed by the award distribution and culminated with an open house discussion.
National Small Industry Day 2023 Significance
National Small Industry Day 2023 encourages and shapes government policies to enhance the efficiency of the small-scale sector. Micro, Small, and Medium Enterprises are an integral part of the value chain and to foster the ecosystem, the government has been working tirelessly.
National Small Industry Day 2023 also highlights the efforts made to widen the range of these sectors into various services and commodities hovering in the economic model of a country that houses more than 6.3 crores of MSMEs.
National Small Industry Day also marks the various other possibilities and opportunities that the sector creates for the individuals working in urban and rural areas.
National Small Industry Day 2023: What are some of the government initiatives?
The Government of India has started various initiatives to promote Small Scale Industry in India. They contribute in making MSMEs more stronger and stable in the country. Some of them are-
- Champions Portal
- UDYAM
- National SC-ST Hub
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