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30 August: Small Industry Day 2019 Celebrations Details, Aim, Significance
30 August: Small Industry Day 2019 Celebrations Details, Aim, Significance
The Small industry day is celebrated every year on 30 August in India to promote and support small Industries.
The Small industry day is celebrated as a part of its effort to provide balanced growth to existing small, medium and large scale enterprises and render assistance for setting up new industries to boost the state’s financial health.
The Small industry day is an event held by the military to present requirements to industry representatives for weapons or vehicles. Common presentation methods include outlines by powerpoint.
Industry days are usually held in succession with each event holding fewer people as contractors drop their bids. On this day National awards are given to selected small scale entrepreneurs and open discussion for improvement is held.
Government of India in order to promote small and budding entrepreneurs decided to establish a government agency which can mediate and provide help to Small Scale Industries (SSI).
Small Scale Industries plays an important role in Indian development. About 40% of the gross output of products in India is supplied by small scale industries
Modi government has launched some loan schemes to promote Small Scale Industries of India:
- MSME Business Loans in 59 Minutes
- MUDRA Loans
- Credit Guarantee Fund Scheme for Micro and Small Enterprises
- National Small Industries Corporation Subsidy
- Credit Link Capital Subsidy Scheme for Technology Upgradation
- An Alternative: Quick Business Loans from Lendingkart