6th April 2017 The United Nations has ratify a resolution as per which 27 June to be observed every year as the day of (MSME) Micro, Small and Medium Enterprises . The day was 1st observed in 2017, this year marks the 4th MSME Day.
Importance of the Day
After achieving the Sustainable Development Goals set by United Nations, Governments across the globally are required to create an suitable environment for promoting innovation and creativity. For this, the importance of Micro, Small, and Medium-sized Enterprises needs to be recognized. This will further help in encouraging the formalization and growth of the Micro, Small and Medium Enterprises sector across both the domestic level and international level markets. Globally.
As per the International Council for Small Business data (The global platform in support of Small and Medium-sized Enterprises.), MSMEs on contribute to world economy nearby 50 percent in the GDP and generate 70 percent employment in an nations economy. Most of the employment generated by MSMEs sector is for the vulnerable sectors of our society.
MSME Day 2020
At the time of a pandemic when millions of people across the world have lost their jobs, major sector where people lost job is MSMEs. MSMEs generate more jobs in rural area. But as nations across the world have been imposing nationwide lockdown, the business of the MSMEs sector have also affected significantly.
This year’s 27 June MSME day is to raise awareness and remind the governments of the important role that MSMEs have played in their economy over the decades and create more jobs oppertunity for youth.
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