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With confidence in securing a third term, PM Narendra Modi has outlined ambitious promises, including a commitment to elevate India to the rank of the world’s third-largest economy.
In the BJP’s manifesto, termed as Sankalp Patra, Prime Minister Modi has underscored the indispensable role of startups and Micro, Small, and Medium Enterprises (MSMEs) in propelling India’s economic engine. With a proven track record of implementing supportive measures for these sectors, Modi has vowed to continue empowering small businesses and entrepreneurs if re-elected to power.
BJP’s Sankalp Patra Promised:
Addressing the pivotal role of startups and MSMEs, PM Modi stated:
Expansion of Funding: We pledge to expand funding opportunities for startups through initiatives like the Startup India Seed Fund and Startup Credit Guarantee Scheme, ensuring that aspiring entrepreneurs have access to the resources they need to succeed.”
Mentorship Programs: Mentorship is crucial for the growth of startups. We will continue to establish partnerships with renowned mentors globally, providing invaluable guidance and support to our aspiring entrepreneurs.”
Government Procurement Support: We are committed to facilitating the participation of startups in government procurement. Our aim is to establish a robust framework that simplifies the procurement process and promotes innovation across various sectors.”
Expanding the Startup Ecosystem: Continuing past successes, the government pledges to expand the startup ecosystem further, making it a preferred destination for startups. This expansion will be supported by robust investment, mentorship, and a culture that celebrates entrepreneurial risk-taking.
Empowering Small Traders and MSMEs: Recognising the importance of MSMEs in driving economic growth, Modi promises to empower them:
“Encouraging Adoption of ONDC: Leveraging technology, we aim to empower small traders and MSMEs by encouraging the adoption of the Open Network for Digital Commerce (ONDC), enabling them to expand their businesses efficiently.”
“Protecting Against Cyber Threats: Recognizing the growing importance of cybersecurity, we will develop public cybersecurity products to safeguard small traders and MSMEs against cyber threats and frauds.”
“Launching Affordable Insurance Products: To provide financial security, we will introduce affordable insurance products tailored for small traders and MSMEs, covering risks such as fire, theft, and natural disasters.”
“Simplification of GST Portal: In a bid to enhance accessibility, especially for MSMEs and small traders, we will further simplify the Goods and Services Tax (GST) portal, streamlining compliance processes.”
Transforming Traditional Handicraft: Collaborating with design skill institutes, the government aims to modernize traditional crafts. Additionally, the establishment of a Handicraft Design Bank will upskill artisans, unlocking global market opportunities.
Promoting Khadi as a Global Brand: With structural reforms, the government seeks to rejuvenate and reposition Khadi as a national and global sustainable lifestyle brand.
Establishing Bharat as a Toy Export Hub: By leveraging India’s skilled workforce and cultural heritage, the government plans to establish Bharat as a global hub for toy manufacturing, producing innovative and high-quality toys.
Increasing Employment Opportunities: With successful programs like Production Linked Incentives (PLI) and Make in India, the government aims to make Bharat a global manufacturing hub, generating employment opportunities in various sectors.
Investing in Infrastructure: Continued investment in infrastructure will further create employment opportunities, driving economic growth.
Establishing Global Hubs for High-Value Services: To position Bharat as a global hub for high-value services, the government will establish more Global Capability Centres (GCCs), Global Tech Centres (GTCs), and Global Engineering Centres (GECs).
With each statement attributed to Prime Minister Modi or the BJP’s Sankalp Patra, the government’s promises aim to foster economic growth, innovation, and empowerment for startups and MSMEs, envisioning a prosperous future for India, the BJP’s manifesto said.
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