How Lean Scheme can help manufacturing MSMEs drive growth, compete globally

Posted under: MSME
Date: 2023-09-08
How Lean Scheme can help manufacturing MSMEs drive growth, compete globally

The Micro, Small, and Medium Enterprises (MSMEs), which are the backbone of the Indian economy, contribute over 33% to the nation’s GDP. They represent a substantial 28% of the manufacturing sector, according to MSME annual report and boasting close to 200 lakh production units.  In order to support these businesses, the Government of India, in tandem with the Ministry of MSME, has been rolling out various initiatives. One such initiative is the MSME Competitive (Lean) Scheme (a component of MSME Champions Scheme), which is poised to turbocharge the production capabilities of MSMEs.  The scheme aims to help MSMEs enhance productivity, efficiency, and competitiveness by reduction of wastages in processes, inventory management, space management, energy consumption, etc. While the Lean Scheme propels Indian MSMEs towards global competitiveness, its visibility and implementation still remain low.

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