He further stated that the reduction in GST rates, along with the simplification of rules and procedures, will greatly benefit MSMEs
PM Modi says To Achieve Viksit Bharat & Be Self-Reliant, Significant Responsibility Lies With MSMEs: Prime Minister Narendra Modi, in his address to the nation hours ahead of the Next Generation GST reforms coming into effect, stated that to make India self-reliant and achieve the goal of 'Viksit Bharat' (Developed India), a significant responsibility lies with MSMEs.
He urged people to follow the path of 'Atmanirbhar Bharat' (self-reliance), saying, “We should produce whatever the people of our country need and whatever can be produced domestically, here in India.”
He further stated that the reduction in GST rates, along with the simplification of rules and procedures, will greatly benefit MSMEs, small industries, and cottage industries.
PM Modi remarked that these reforms will boost their sales and reduce their tax burden, resulting in a double advantage.
He expressed high expectations from MSMEs and underscored their historic role as the backbone of India’s economy during its peak of prosperity. He noted that India’s manufacturing and product quality were once globally recognized and superior.
PM Modi emphasized the need to reclaim that pride, urging that products made by small industries must meet the highest global standards. He stated that India’s manufacturing should surpass all benchmarks with dignity and excellence, and that the quality of Indian products must enhance the country’s global identity and prestige.
The Prime Minister called upon all stakeholders to work with this goal in mind.
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