MSMEs must strive to increase production, output, and per capita income with Walmart’s expertise: Narayan Rane
Contents News/Article Date: 6th December 2022
Relating to which Act: Micro, Small and Medium Enterprises Development Act, 2006, MSME Development Act, 2006; MSME Udyam Registration under MSME Act
Type: ET News Update
Pertains to: All Micro, Small & Medium Enterprises
Relevance of this news: Karma Global is a notable member of MSME for over a decade. Karma Global does a lot of compliance and legal work for a number of small and medium MSME Enterprises in relation to payroll, staffing, labour laws, HR services, training, and so on.
Karma Global also sends a lot of suggestions and advisories to officials on labour-related issues and the need for simplifying the outlook of some of these provisions affecting the business health of small enterprises.
In this instance, Union Minister for MSME Narayan Rane on Tuesday said that MSMEs must seek to increase their production, output, GDP, and per capita income with the help of Walmart’s expertise.
“Walmart is one of the biggest retail companies in America. We will take advantage of improving the industry via Walmart. 20,000 MSME entrepreneurs have been able to do training and capacity building via the Walmart Vriddhi program. The Indian MSME sector currently comprises 6.3 crore MSMEs that employ more than 11 crore people. We must continually strive to increase exports,” he said while speaking at an event in the capital by Walmart and Flipkart to sign an MoU with the National Small Industries Corporation (NSIC).
Karma Global is a member of the MSME and does some good work in relation to compliances and payroll and outsourcing for most of the small and medium enterprises so that they are able to focus on their core production while compliances are taken care of by Karma Management with its direct and indirect staff of over 200 people located on pan India basis.
Subject: MSMEs must strive to increase production, output, and per capita income with Walmart’s expertise: Narayan Rane
For greater details, appended below is the complete news item
MSMEs must strive to increase production, output, and per capita income with Walmart’s expertise: Narayan Rane
Union Minister for MSME Narayan Rane on Tuesday said that MSMEs must seek to increase their production, output, GDP, and per capita income with the help of Walmart’s expertise.
“Walmart is one of the biggest retail companies in America. We will take advantage of improving the industry via Walmart. 20,000 MSME entrepreneurs have been able to do training and capacity building via the Walmart Vriddhi program. The Indian MSME sector currently comprises 6.3 crore MSMEs that employ more than
The minister emphasized that production quality by the sector should be on par with international standards and excellence. “10 lakh suppliers are currently supplying to Walmart. Why can’t it be 30 lakh or 40 lakh? Our production quality should be the best in the world so that MSME entrepreneurs make a name for India outside,” he stated.
The MoU signed on Tuesday will jointly accelerate capacity building for micro, small and medium enterprises (MSMEs) across India. The partnership is also aimed at supporting MSMEs in their journey toward becoming a part of retail supply chains, locally and globally. The event marked the completion of 20,000 MSMEs finishing their training under the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi).
The partnership with NSIC will enable a greater number of small.