Small Industry Day 2020 – Small Industry Day History, Importance, Interesting Facts of Small Industry, and Quotes

Small Industry Day 2020 - On the 30th of August, National Small Industry Day is observed each year to commemorate as a part of its effort to provide balanced growth to existing small, medium, and large scale enterprises to support and promote small industries. Read more information about the National Small Industry history, importance, and interesting facts about the National Small Industry below.

Monika | Updated Jul 06, 2020 13:21 PM

Small Industry Day 2020 – Small Industry Day History, Importance, Interesting Facts of Small Industry, and Quotes

National Small Industry Day 

National Small Industry is observed every year to commemorate the effort taken to provide balanced burgeons to existing small, medium, and large scale enterprises to support and elevate small industries. It seeks to provide assistance for setting up new industries to uplift the state’s financial health. The industry is privately owned by small corporations or manufacturers with slendered resource power. Small scale industries contribute to local employment opportunities and also raise industrial productivity and exports, which has a remarkable impact on the Indian economy. These small scale industries make an investment in machinery, plants at once, which does not exceed INR 1 crore.

History of National Small Industry Day 

An extensive policy package was announced for the SSI sector on 30th August 2000 which provided a substantial measure of support to small businesses in India. It was then decided that the Ministry would commemorate 30th August of every year as ‘SSI Day". The Ministry of Small Scale Industries organized an SSI (Small Scale Industry) Convention for SSI Entrepreneurs on 30th of August 2001 in New Delhi and a presentation of the National Awards function the program was divided into three sections, i.e. Inauguration, Distribution of National Awards and an Open House Discussion. Later, he also expressed that the extensive policy package announced by the Prime Minister last year has met most of the needs of the sector. 

The Central Government has taken a number of initiatives for the development of small-scale industries in the North Eastern States. The Minister of Small Scale Industries, Smt. Vasundhara Raje addressed the convention and said that a task force including the State Ministers in-charge of Small scale Industries has been structured specifically for this region. A Tool Room is being set up at Guwahati, NSIC and NEDFI are building offices in all the States, Finance Ministry has notified industrial estates under the Central Excise Act in Arunachal Pradesh. The SSI sector accounts for 35% direct exports. The growth rate of the SSI Sector in 2000-01 was 8.09% where Industrial Sector and GDP growths were 4.9% and 6% respectively. The SSI sector also provides employment to 18.6 million persons across India.  She regretted that the credit delivery was still far from satisfactory and declared a scheme of awards for those Banks that provide considerable credit to the SSI Sector. The modalities of the scheme are being finalized and would be initiated from the next year. The SSI’s are the essential key to the economy, especially in developing countries like India. These industries are generally intensively labor-based and hence they plan a vital in the generation of employment. SSI’s are a crucial sector of the economy both from a financial and social viewpoint, as they help with the per capita income and resource utilization in the economy.

Role and Objectives of National Small Industries  

This small scale industry accounts for almost 40% of the total goods and services produced in the Indian economy. The industry has an opportunity to earn wealth and provide employment to other people. The role and objectives of small scale industries are given below: 

Employment: SSI provides employment for everyone across the nation. Due to the limitation of technology and scarce resources, they tend to use manpower and labor for production activities. 

Total production: The enterprises accounts for about 40% of the total production in goods and services in India. They are one of the reasons for uplifting and strengthening of the economy

Make in India: SSI’s are the best examples for this initiative that focuses on the mission to manufacture products in India and sell it worldwide.

Export Contribution: India’s export industry majorly depends on these small industries for their growth and development. Nearly half of the goods were exported from India and manufactured/produced by these industries.

Public Welfare: These industries have a chance to earn wealth and initiate employment for everyone across India. SSI’s are also important for social growth and development of our nation.

Objectives: 

  • To create and initiate employment opportunities

  • To help in developing the rural and less developed regions in the economy.

  • To reduce regional imbalances

  • To ensure optimum utilization of unexploited resources of the country.

  • To improve the living standards of people.

  • Ensure equal distribution of income and wealth.

  • To resolve unemployment issues

  • To attain self-reliance

  • To adopt the latest technology focusing to produce better quality products at lower prices. 

Loan Schemes introduced by Narendra Modi for National Small Industries : 

The prime minister of India, Narendra Modi has implemented six loan schemes for the small scale industry sector. They also help with per capita income and resource utilization in the nation. The six loan schemes that are introduced are given below : 

  • MSME Business Loans in 59 minutes.

  • Mudra loans.

  • Credit guarantee fund scheme for micro and small enterprise.

  • National small industries corporation subsidy.

  • Credit link capital subsidy strategy for technology upgradation.

  • An alternative – quick business loans from the lending kart.

Number of Small Industries in India: 

In small scale industries, manufacturing industries have observed fast growth due to the natural supply of raw materials and increasing demand in public there are 21 major small scale industries in India and more than 7500 products are manufacturing. Few of them are listed below: 

  • Cotton Textiles

  • Electrical & Machinery Parts

  • Food Products

  • Chemical Products

  • Rubber & Plastic Products

  • Metal Products

  • Wood Products

  • Paper Products & Printing

  • Leather & Leather Products

  • Beverages and Tobacco

How is National Small Industries Day observed?

  • National small industry day is celebrated in a different theme every year.

  • Innovative product designs are displayed in exhibitions. 

  • Educative lectures and awareness camps are organized all over the country.

  • National small industry day as a part of Our India- Our pride event Himalai wants to create awareness about the importance of small scale.

Facts about National Small Industries: 

  • Small scale industries are privately owned by small corporations or manufacturers with limited resources and manpower.

  • Contributes to the local employment opportunities

  • Increases industrial production and exports which an important impact is made in the Indian Economy. 

  • Small scale industries make an investment in machinery, plants at once, which does not exceed INR 1 crore.  

Disclaimer: The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.

National Small Industries Day 2020 - FAQs

1. What is a national small industry day?

National Small Industry is observed each year to commemorate as a part of its effort to provide balanced growth to existing small, medium, and large scale enterprises to support and promote small industries.

2. When is National Small Industries Day observed?

National Small Industry is observed on August 30 every year which provided a substantial measure of support to small businesses in developing countries like India.

3. Who owns the Small Industries?

Small scale industries are privately owned by small corporations or manufacturers with limited resources and manpower.