The Government of India has been pushing new schemes for the growth and development of new businesses as well as for the MSME sector. This includes financing, education for implementing new technologies to boost quality and output, investment plans to achieve net-zero emissions and many more. Yet, there exists a gap in the entire ecosystem – reaching out to the new generation to take the entrepreneur route. To address this, the Ministry of Micro, Small & Medium Enterprises (MSME) launched the SAMBHAV awareness program.
What is SAMBHAV?
Launched by the MSME ministry, SAMBHAV is an e-National level awareness program targeted at students who are on the verge of entering the professional world. This mass outreach program is a campaign to educate students from colleges. It is about entrepreneurship and the means to achieve it. The program aims at educating the students on how the new entrepreneurs can leverage many government schemes to start their own businesses. The various platforms on offer can be used to grow and create a business that can deliver goods and products at par with the global competition.
SAMBHAV is proposed to be held across the country in the 130 locations of the MSME ministry’s field offices. The aim is the promote youth engagement to boost domestic manufacturing and provide a much-needed push to the economy to achieve the target growth rate. The medium of education for the students is via audio and video films as well as various presentations that showcase the myriad schemes implemented by the government.
SAMBHAV’s Impact on the Economy
The government’s aim behind launching SAMBHAV was to provide India’s industrial landscape a much-needed push, especially in the manufacturing sector. India’s Prime Minister Narendra Modi aspires to develop India into a manufacturing powerhouse, giving China, the present market leader, tough competition by offering high-quality manufactured products at a good price.
Moreover, MSME’s GDP contribution is also a major factor. With the boost to the MSME sector, the GDP contribution is also expected to go up. MSMEs currently contribute to 30% of India’s GDP, and with SAMBHAV, the government aims to push the number to 50% and above. This will also have an impact on job creation with more jobs being created. This can ease some of the unemployment challenges from the government. MSMEs currently employ 11 crore people across various industry sectors. This number is expected to reach 15-crore with SAMBHAV.
The Union Minister of MSME, Narayan Rane, said that engaging India’s youth and promoting entrepreneurship can benefit India and its economy greatly. The new products and services that new businesses will launch will have a cascading effect on stimulating the other sectors and dependent businesses. The large-scale SAMBHAV initiative will be conducted in over 1,300 colleges across India and a total of over 1,50,000 students are expected to benefit from it through active participation