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    National Small Industry Day: History and significance

    National Small Industry Day: History and significance

    National Small Industry Day: History and significance
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    By CNBCTV18.com  IST (Published)

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    The Centre formally declared August 30 as the National Small Industry Day, a year after the Ministry of Small-Scale Industries announced a comprehensive policy package for small businesses. The day recognises the contribution of small industries to the country’s growth and is an opportunity for the central and state governments to encourage and support small industries.

    The National Small Industry Day is observed in India on August 30 every year. The day recognises the contribution of small industries to the country’s growth. The day is also an opportunity for the central and state governments to encourage and support small industries. These small businesses offer employment to a large number of people in India.
    Small industries are usually associated with manufacturing or providing services on a small scale. These businesses employ local workers. The maximum investment made into such businesses is Rs 1 crore. In India, these small industries are crucial in addressing the problems of unemployment and semi-employment.
    History and significance
    On August 30, 2000, the Ministry of Small-Scale Industries announced a comprehensive policy package for small businesses. The policy helped small businesses with the development of infrastructure and technology. A year later, the Centre formally declared August 30 as the National Small Industry Day.
    The government has been felicitating small industries with excellent growth or those small businesses bringing a positive social or environmental change. The government also launches new small businesses on this day. Besides, discussions are held on ways to improve the productivity of small businesses on the occasion.
    It is important for the county to support small businesses as nearly half of the goods exported from India are manufactured in small-scale industries. They give a significant boost to economic activities which is essential for a developing nation like ours.
    The best way to observe the National Small Industry Day is to follow Prime Minister Narendra Modi’s call of “vocal for local”. If we buy goods (or services) from small businesses, they will flourish and thrive and provide employment to more people. You can put up a social media post promoting any nearby business which you find interesting.
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