Minister of State for Finance, Dr. Bhagwat Karad, and Chief Economic Advisor, V Anantha Nageswaran, reiterated the Indian government’s commitment to employment-centric policies for Micro, Small, and Medium Enterprises (MSMEs). They specifically emphasized support for young micro entrepreneurs from underserved communities during a Global Plenary on Inclusive Entrepreneurship. The event, titled “In Conversation with Young Entrepreneurs,” was organized by Bharatiya Yuva Shakti Trust (BYST) and Futurpreneur, G20 YEA Canada.
The plenary witnessed participation from multiple stakeholders representing MSME sectors in India, Canada, China, France, Germany, the UK, and industry leaders. The speakers emphasized the importance of cross-border collaborations and knowledge exchange among MSME entrepreneurs from India, Europe, North America, and other G-20 nations. They emphasized that such collaborations would help combat unemployment and build sustainable business opportunities.
The discussions centered around the significance of Environmental, Social, and Governance (ESG) activities. Participants explored various policies, identified obstacles, and suggested means for developing a resilient and inclusive economy. The focus was on fostering micro-entrepreneurship and creating new employment opportunities, with special attention given to women, tribal or indigenous communities, and other underserved groups.
India, in collaboration with the G-20 countries, has been actively promoting knowledge exchange between entrepreneurs. The government has also intensified efforts to support micro-entrepreneurship and facilitate the adoption of successful and sustainable “net-zero” goal business models. These initiatives aim to drive the growth of the MSME ecosystem not only in India but also in other developing countries within the G-20 framework.
Recognizing the pressing issue of employment globally, the meeting highlighted the role of MSMEs in eradicating unemployment. Stakeholders agreed on the need for concerted efforts by policymakers and industry leaders to leverage the potential of MSMEs in creating job opportunities.
The plenary featured a diverse group of stakeholders, including grassroots entrepreneurs, who shared their best practices, explored collaborative opportunities, and celebrated the transformative power of inclusive entrepreneurship. The discussions also delved into the concept of the circular economy, with a focus on how enterprises can adopt sustainable practices, minimize waste, and have a positive environmental impact through innovative business models.
During the event, Dr. Bhagwat Karad launched an exclusive Green Business Idea Contest for rural youth in Kagaznagar, Telangana, promoting entrepreneurship among young individuals. He also witnessed the signing of a Memorandum of Understanding (MoU) between BYST and The Sirpur Paper Mills, aimed at promoting Social and Green Entrepreneurship.
The Global Plenary on Inclusive Entrepreneurship served as a platform for stakeholders to exchange ideas, explore collaborative opportunities, and champion inclusive and sustainable entrepreneurship. The discussions and commitments made during the event highlight the collective efforts required to empower MSMEs, generate employment, and drive sustainable economic growth.