MSMEs leading way in economic growth: Guv
2
Guwahati: Assam governor Lakshman Prasad Acharya on Friday called the micro, small, and medium enterprises (MSMEs) sector the backbone of the economy after agriculture, emphasising its importance in India's economic journey.
Speaking at the North East MSME Conclave 2025 held at NEDFi House in Guwahati, which was organised by the Confederation of Indian Industry (CII), Acharya hailed the northeast as a "priceless treasure", rich in biodiversity, natural resources, and traditional industries. "The region's unique products like bamboo, tea, silk, and handlooms have the potential to become global assets through the power of MSMEs," he said.
The governor also reiterated Assam's strategic role as the "Gateway to the East" under India's Act East Policy. "This opportunity must be seized, with MSMEs playing a leading role in building bridges of trade, innovation, and cultural exchange," he said.
He also asked the industry leaders, for greater investment in the northesat, enhanced youth training, skill upgradation, access and reach to global market for local products.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Access all TV channels anywhere, anytime
Techno Mag
Learn More
Undo
The governor urged the participants to make the most of the conclave by engaging in meaningful dialogue and collaboration. "The success of this conclave will send a message of hope, prosperity, and transformation for generations to come," he said.
Recalling India's historical economic strength, he said the country once contributed nearly 27% to the global GDP before colonialism led to the decline of local industries. "While large industries received attention post-independence, MSMEs were ignored for decades," he said, crediting PM Narendra Modi's leadership for revitalising the sector through key initiatives like Mudra Yojana and Udyog Sathi App.
The conclave saw participation from stakeholders across the region, including former CII-NE Council Chairman SK Baruah, NABARD CGM Loken Das, PNB ED D. Surendran, and CII member Gopi More.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
29 minutes ago
- Time of India
Trump dumps 25% tariff on India from Friday, plus penalty for buying Russian oil
NEW DELHI: US President Donald Trump on Wednesday announced a 25% tariff on all goods imported from India, along with an unspecified penalty, from Aug 1 after the two countries failed to reach an interim trade deal, triggering nervousness among exporters. After making several claims over the last four months of having got India to agree to slash tariffs, Trump took to social media to announce the stiff duties and linked the action to India's high trade surplus with the US and purchase of Russian oil and arms. "Also, they (India) have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine - all things not good! India will therefore be paying 25%, plus a penalty for the above, starting Aug 1," Trump posted on Truth Social. The US president had earlier announced a "reciprocal tariff" of 26% on India. He later paused it, but left a 10% baseline tariff on all countries. Trump's proposed penalty has complicated the calculations for Indian businesses. Over the last three months, he has managed to get other trading partners such as the European Union, Japan, Britain and Vietnam to open up their markets for American goods in return for lowering the tariffs, something he could not do with India due to its reluctance to offer concessions on farm and dairy products. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ultra Lux 4BHK homes at 7 Mahalaxmi from 10.81 Cr* 7 Mahalaxmi, Runwal Group Enquire Now Undo Within the govt there was clarity that it would not settle for a sub-par deal that did not provide for adequate tariff cuts in the US for Indian textiles, leather and footwear and lower-end auto parts. Trump announcement seen as bid to mount pressure on India to agree to US demands President Trump managed to get other trading partners such as EU, Japan, Britain and Vietnam to open up their markets for US goods in return for lowering tariffs, something he could not do with India due to its reluctance to offer concessions on farm and dairy products. Within govt there was clarity that it would not settle for a sub-par deal that did not provide for adequate tariff cuts in the US for Indian textiles, leather and footwear and lower-end auto parts. The Trump administration's argument that it did not have the legislative mandate to revert to reducing tariffs to zero, as is the case with most trade agreements, did not find traction with Indian negotiators, who were asked by the leadership to leverage the large and growing market offered by India. During the negotiations, India had indicated its willingness to buy larger quantities of LNG, fertiliser and defence equipment from the US, but the demands kept increasing. Trump's repeated attempt to link the Operation Sindoor ceasefire to his offer for a good trade deal only complicated matters for him. Over the last few weeks, there was also an attempt to prepare industry for possible imposition of tariffs. While talks for the proposed trade deal will continue, the announcement is seen as a move to mount pressure on India to agree to American demands. In the meantime, businesses fear that the uncertainty over the penalty will make buyers reluctant to place orders, some of which may flow to other countries. Countries like Vietnam, which have negotiated lower levies, may hurt India. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
30 minutes ago
- Time of India
25% tariff threatens key export sectors
Ahmedabad: Industries across Gujarat are bracing for potential turbulence after US President Donald Trump announced a sweeping 25% tariff on all Indian imports. The move has rung alarm bells, particularly in Gujarat's textiles sector, which counts the US among its top export markets. "The move to impose a 25% tariff on Indian textile imports to the US is a significant setback for the industry," said Ronak Chiripal, promoter of Chiripal Group. "Such a tariff would impact price competitiveness, particularly for mid- to high-value products. While recent trade agreements with the UK and Australia are creating new opportunities, uncertainty around the US-India trade deal creates a planning and margin challenge for Indian exporters. " The impact is expected to spill over into other key sectors as well, including chemicals and ceramics, both of which contribute significantly to Gujarat's export basket. Exporters across sectors are actively diversifying markets and product lines, emphasizing the need for a stable, predictable trade environment to sustain manufacturing growth and long-term customer relationships. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Ankit Patel, regional chairman – north region, Chemexcil, said, "The US is the top export destination for Indian chemical products, so the 25% tariff will deal a significant blow to the industry. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo Since chemicals are industrial inputs, businesses cannot easily pass on the cost to end users, making it harder to absorb the impact. We expect the real impact to start showing in the coming months." Trade experts say the development could re-ignite pressure for an expedited bilateral trade pact with the US, especially as geopolitical dynamics are rapidly shifting. Nilesh Jetpariya, former president of the Morbi Ceramic Association, said, "The Morbi ceramics industry will be impacted, but we are closely analysing the tariff structure on other key ceramic-supplying countries. Last year, there was a process to impose anti-dumping duties on Indian ceramic products, which led to the US share in our exports falling to 7.5% from 9.5% the year before. " He added, "The competitiveness of our exports now depends on how countries like Italy, Spain, Mexico, Brazil, and Turkey — all major ceramic exporters to the US — are treated under the new tariff regime. If they too face similar tariffs, the playing field remains level. Currently, our ceramic products attract around 8.5% basic duty and 3.5% anti-dumping duty, along with a 10% tariff. An additional 15% tariff hike will have a negative impact, but we've seen that Morbi continues to export to Mexico despite a 25% duty — which shows that we remain cost-competitive compared to many global players. "
Time of India
34 minutes ago
- Time of India
LDA plans Rs 431crore integrated divisional office in Gomtinagar
Lucknow: The Lucknow Development Authority (LDA) has proposed the construction of an integrated divisional office near Samta Mulak Chauraha in Gomtinagar. The project, modelled on similar facilities in Varanasi and Gorakhpur, is expected to cost around Rs 431 crore. A detailed project report (DPR), which includes the proposed transfer of land currently under the irrigation department, has been submitted to the housing department for approval. LDA was entrusted with preparing the DPR, conducting surveys, and assessing the current status of departmental offices. The aim is to bring major administrative offices under one roof to streamline inter-departmental coordination and improve service delivery. In a survey of 63 departments, 54 divisional-level departments were found suitable for relocation to the proposed eight-storey building, which will feature double basement parking for around 900 cars. The proposed site, currently owned by the irrigation department, was originally allotted to the UP-State Haj Committee in 2009 and has remained vacant for the past 14 years. The irrigation department has initiated the process to cancel the lease, citing violations of the allotment terms. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Easily Available Foods Naturally Help In Healing Knee Pain Naturally Learn More Undo According to the DPR, the complex will include centralised office spaces, a public grievance and help desk, conference halls, training facilities, green areas, and parking. Of the total cost, the govt is expected to provide Rs 50 crore as seed capital. LDA will contribute Rs 25 crore, while the remaining amount will be mobilised through the monetisation of existing departmental office properties and surplus govt land. Three office sites marked for relocation could generate Rs 63.5 crore through monetisation. Additional land parcels identified by the district administration and the revenue department are expected to contribute Rs 466 crore. Some Nazul land is estimated to yield another Rs 24 crore. According to LDA officials, "The proposal has been forwarded to the state govt. Approval is being sought from the Council of Ministers through the state-level committee, along with administrative and financial clearance for the seed capital and cancellation of the previous land allotment."
