Micro, Small & Medium Enterprises is considered as the engine of economic growth in developed and developing countries of the world. MSME sector contributes around 29% of India’s GDP and 48% of Country’s overall export. There are 63 million MSMEs in the country and employing around 110 million people. In Odisha, 4.49 lakh MSMEs are operating and providing employment to 16.92 lakh people. MSMEs play a prominent role in the development of a country in terms of creating maximum employment opportunities for both self-employment and wage employment outside the agricultural sector, scaling manufacturing capabilities, curtailing regional disparities, balancing the distribution of wealth and significantly contributing to the GDP of the country. It has been recognised as the potential to drive “inclusive and sustainable growth” and ensure “decent work for all” for sustainable development. However, their growth potential in areas of innovation and productivity is often impeded by lack of access to finance and insufficient training and capacity building. Make in India, Digital India, Start up India, Stand up India, Skill India, Atma Nirbhar Bharat etc. initiatives have been taken by Government of India to make India a hub of manufacturing. For balancing multiple challenges of economy, we must celebrate entrepreneurial legacy and consumption led growth model that can create job to harvest demographic dividend.
MSME-Development Institute, Cuttack established in 1956 as a field office of O/o Development Commissioner (MSME), M/o MSME, Government of India, New Delhi provides a wide range of services to the MSMEs in the state of Odisha through its main office at Cuttack and Branches located at Rayagada and Rourkela. The main function of the Institute is to provide: (i) Techno-Economic & Managerial consultancy (Identification and selection of product), (ii) Guidance on availability of raw material, marketing assistance including export, (iii) Guidance for availing benefits under different schemes, Product/Process Design, Testing and Quality Control, Infrastructure, Practical demonstration, approval/clearances, (iv)Preparation of project profiles, Udyam registration, (v)Skill Development and Training Services (IMC, EDP/ESDP/MDP), (vi) Awareness & Sensitisation Programmes on Various Schemes.