New Delhi, July 10 (INS): The Micro, Small and Medium Enterprises (MSME) sector can play a key role in making India a major electronics manufacturing hub, Ministry of Electronics and Information Technology (MEITy) Secretary S Krishnan said on Wednesday.

In his address at the CII MSME Growth Summit here, he said this could be achieved by increasing the proportion of locally produced components.

“Manufacturing will play a major role in the structural transformation of the Indian economy and electronics will be a key sector driving this transition. We need to increase domestic value addition in electronics from 18-20 per cent to the next 35-40 per cent. Five years,” said Krishnan.

“MSMEs will play an important role in this effort and will play a major role in the manufacturing of electronics components.”

He emphasized the huge potential that digitization can be a game changer for the MSME segment. Technology adoption by smaller players through cluster-based facilities and retrofitting of existing facilities are cost-effective ways for this segment to go digital.

Highlighting the importance of digital economy, he said MeitY is working to assess the size of digital economy in the country.

Dr. Ishita Ganguly Tripathi, Additional Development Commissioner, Ministry of MSME, highlighted the need to increase the participation of women in registered MSMEs from 39%. She emphasized leveraging the “7 As” for women’s empowerment: Availability, Access, Affordability, Awareness, Accountability, Unity, and Success.

Educating MSMEs about regulatory requirements and ESG compliance is essential for their sustainable growth, he added.

T Koshi, Managing Director and CEO, Open Network for Digital Commerce (ONDC) said that the government and large enterprises can play an important role in supporting MSMEs and MSMEs should take advantage of the digital ecosystem.

He added that the network is also adding insurance as a new component that will appear soon.

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