GUWAHATI, July 25: Governor Lakshman Prasad Acharya on Friday emphasised the role of MSMEs, maintaining that the sector has been driving growth, employment, and self-reliance in the country.

Acharya, while speaking at the inaugural session of the North East MSME conclave 2025, said the North East stands to benefit from this sector, especially as the region’s products like bamboo, tea and silk can be transformed into global bestsellers by MSMEs.

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The programme was organised by the Confederation of Indian Industry (CII), an official statement said.

Highlighting the crucial role of the MSMEs, the governor said, “In the 21st century, MSMEs are the livelihood source for millions and form the backbone of our economy after agriculture. They are instrumental in driving growth, employment, and self-reliance.

Speaking about the potential of the northeast, the governor called it a priceless treasure, which is rich in natural resources, biodiversity and traditional industries.

The region’s unique products, such as bamboo, tea, silk and handlooms, could be transformed into global assets through the power of MSMEs, he said, adding the northeastern region stands to benefit from this sector, especially as the region’s products like bamboo, tea and silk can be transformed into global bestsellers by MSMEs.

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Reflecting on historical economic shifts, the governor recalled that India once accounted for nearly 27 per cent of the global economy before colonial exploitation led to the decline of indigenous industries, particularly the micro, small, and medium enterprises (MSMEs).

Post-independence, while large industries received attention, MSMEs remained less patronised for decades, he said.

Acharya lauded the current dispensation for revitalising the MSME sector through initiatives such as the Pradhan Mantri Mudra Yojana, Udyog Sathi App, Samarth Scheme and Credit Guarantee Fund Trust for Micro and Small Enterprises.

He also emphasised the importance of leveraging local industries, such as bamboo crafts, handlooms, organic farming, and eco-tourism, through modern technology, digital innovation, and global marketing strategies.

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Acharya also reiterated Assam’s strategic role as the gateway to the east and said, “This opportunity must be seized with MSMEs playing a leading role in building bridges of trade, innovation and cultural exchange.

The governor urged industry leaders to invest more in the northeast, and also lauded CII’s efforts in boosting the economic progress of Assam and the entire region.

The event brought together key stakeholders from across the region. It offered a platform to deliberate on the potential of the MSMEs in shaping the future of the northeast, the statement said. (PTI)