June 27: International MSME Day

Every year, the International MSME (Micro, Small and Medium Enterprises) Day is celebrated on June 27 by the United Nations.

Highlights

The day was declared as MSME day on the 74^th Plenary meet of UN General Assembly in 2017. The day is celebrated as MSMEs play vital role in establishing the Sustainable Development Goals. This year the International MSME Day is celebrated under the following theme

Theme: COVID-19: The Great Lockdown and its impact on Small Business

India

In India the Ministry of MSME has taken following measures to help the industries survive during COVID-19 crisis.

KVIC

KVIC operating under the Ministry of MSME has taken following steps

• Setting up community kitchens to provide food packets to the migrants
• Release of Rs 1000 per month to the registered artisans through Artisan Welfare Fund Trust
• Release of funds through Market Development Assistance to Artisans and Khadi institutions through Direct Benefit Transfer.

Coir Board

The Coir Board under the Ministry of MSME has implemented the following steps during COVID-19 crisis

• The Coir Board through coir industries and Associations provided sanitizers, masks, shelter to the coir workers
• It contributed Rs 3 lakhs to the PM Cares Relief funds through COCOMANS.

How do MSMEs contribute to SDG?

The Micro, Small and Medium Enterprises are important to implement SDG targets 8.3 and 9.3. They are also important to implement SDG 8 and SDG 9. The SDG 8 focuses on Decent Work and Economic Growth and SDG 9 calls for development in industry, innovation and infrastructure.

Month: Current Affairs - June, 2020