India's MSMEs Boost Competitiveness with Quality Practices
Small and medium-sized enterprises (MSMEs) in India are stepping up their game by adopting quality practices, a move that's crucial for the country's economic recovery and growth. With over 110 million jobs and contributing 28% to the GDP, their competitiveness is vital. The government is now focusing on improving the ease of doing business and reducing costs.
The Confederation of Indian Industry (CII) Institute of Quality is playing a significant role in this transformation. It uses a cluster approach to build competitiveness among MSMEs, helping them stand out in areas like workplace safety, continuous improvement, and customer focus. By adopting quality and excellence practices, these businesses can enhance their competitiveness and agility.
Skill development is another key factor. With India's demographic dividend available for the next three decades, skilling the youth is essential to leverage this advantage and meet social objectives. Competitiveness is not just important for MSMEs but also for the nation's prosperity and economic growth.
MSMEs adopting quality practices and developing skills are poised to drive India's economic recovery and growth. Organizations like the CII Institute of Quality, along with international initiatives, are supporting this transformation by promoting experience sharing, learning, and healthy competitiveness. With the government's focus on improving the ease of doing business, the future looks promising for India's MSME sector.
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