On India’s 68th Independence Day, PM Modi urged the industry, especially the MSMEs of India, to manufacture goods in the country with “zero defects” and to ensure that the goods have “zero effect” on the environment.
It also helps in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth. MSMEs are complementary to large industries as ancillary units and this sector contributes enormously
to the socio-economic development of the country. MSMEs consist of 36 million units, as of today, provides employment to over 80 million persons. The Sector through more than 6,000 products contributes about 8% to GDP besides 45% to the total manufacturing output and 40% to the exports from the country.
To develop and implement a ZED culture in India based on the principles of:
- Credible recognition of the industry for international customers seeking investment in India
- Streamlined operations and lower costs
- Superior quality, reduced rejection and higher revenues
- Increased environmental & social benefits
- Additional employment generation
- Other benefits as announced by the Government from time to time.
