Prime Minister Narendra Modi on Tuesday launched the National SC/ST Hub to provide support to entrepreneurs from the community. With an initial outlay of Rs 490 crore, the hub will work towards strengthening market access/linkage, monitoring, capacity building, leveraging financial support schemes and sharing industry-best practices.
It will also enable central public sector enterprises to fulfill the procurement target set by the government.The Public Procurement Policy 2012 stipulates that 4 per cent of procurement done by ministries, departments and CPSEs will have to be from enterprises owned by SC/ST entrepreneurs.
The MSME sector, including the service segment, is a key driver of India’s economic growth as it contributes nearly 38 per cent to the country’s gross domestic product (GDP) and employs close to 11 Crore people.
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