Udyami Bharat-MSME Day Event Highlights Legal Reforms and Industry 4.0 Integration for Sector Advancement

The event featured insightful discussions and perspectives from key leaders aimed at enhancing the regulatory framework for MSMEs in India.

Today, the Ministry of Micro, Small & Medium Enterprises organized a comprehensive day-long programme centered on the theme of ‘Legal Reforms in the MSME Ecosystem’ as part of the Udyami Bharat - MSME Day event. The event featured insightful discussions and perspectives from key leaders aimed at enhancing the regulatory framework for MSMEs in India.

Union Minister of State (Independent Charge) for Law & Justice, Shri Arjun Ram Meghwal, delivered a keynote address emphasizing three critical points. Firstly, he underscored India's transition into the era of Industry 4.0, highlighting the impact of technologies such as Artificial Intelligence, machine learning, 3D printing, and Robotics on legal requirements within the MSME sector. Secondly, he advocated for the adoption of Alternate Dispute Resolution (ADR) and mediation as effective mechanisms for resolving disputes swiftly and amicably. Thirdly, he reiterated Prime Minister Shri Narendra Modi’s vision, envisioning India as a global hub for Arbitration in the 21st century.

Dr. Rajiv Mani, Secretary of the Department of Legal Affairs, Ministry of Law and Justice, further delved into the theme, emphasizing the advantages of institutional arbitration in expediting dispute resolution processes. He highlighted that streamlining legal issues through ADR and mediation could significantly benefit the MSME sector, which forms the backbone of India’s economy.

Presiding over the Udyami Bharat - MSME Day event, Union Minister for Micro, Small and Medium Enterprises, Shri Jitan Ram Manjhi, along with Minister of State for MSME, Sushri Shobha Karandlaje, and other dignitaries, acknowledged the pivotal role of MSMEs in driving economic growth. The event brought together senior officials from the Ministry of Micro, Small, and Medium Enterprises and the Ministry of Law and Justice to discuss strategies for empowering MSMEs through robust legal reforms.

The programme highlighted the growing importance of integrating advanced technologies and modern legal frameworks to support the dynamic growth of MSMEs in India. It emphasized the need for proactive measures in legal reform to ensure a conducive environment for innovation, entrepreneurship, and sustainable development in the MSME sector.