MSMEs key for India’s economy, says Mohan Bhagwat

Nagpur: Despite tremendous economic progress, the world’s wealth is being controlled by a few big houses and 24-25 people, observed Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat on Saturday.  

The RSS chief was speaking at a function organised by Laghu Udyog Bharati, a frontal org-anisation of the Sangh Parivar, at Nagpur.

Mr Bhagwat said that small industries would bring economic independence as envisioned by father of Indian Constitution Babasaheb Ambedkar and RSS founder, Dr Keshav Baliram Hedgewar.

The RSS chief asserted that only small-and medium-scale industries, and not big corporations and business houses can do justice to such economic freedom. “The first condition for attaining financial freedom for all is that every person becomes self-sufficient. Those who are not self-sufficient do not have freedom,” said Mr Bhagwat.

He also added that entrepreneurship would make more and more people financially self-sufficient.

Hitting out at the corporate sector, Mr Bhagwat said that all that was big did not last long and that in a span of 25 to 30 years, such businesses reached a level where funds needed to be borrowed for survival. “Rather, small industries are also safer for the environment. Limited resources are consumed by such units, which cater to a limited segment of consumers,” he said.