- June 5, 2020
- Posted by: admin
- Category: DPN Topics
Prime Minister has launched the technology platform CHAMPIONS which stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.
- The portal is basically for making the smaller units big by solving their grievances, encouraging, supporting, helping and handholding.
- It is a real one-stop-shop solution of MSME Ministry.
- This ICT based system is set up to help the MSMEs in present difficult situation and also to handhold them to become national and international champions.
- Detailed objectives of CHAMPIONS:
- Grievance Redressal: To resolve the problems of MSMEs including those of finance, raw materials, labor, regulatory permissions etc particularly in the COVID created difficult situation;
- To help them capture new opportunities: including manufacturing of medical equipment and accessories like PPEs, masks, etc and supply them in National and International markets;
- To identify and encourage the sparks: i.e. the potential MSMEs who are able to withstand the current situation and can become national and international champions.
- In addition to ICT tools including telephone, internet and video conference, the system is enabled by Artificial Intelligence, Data Analytics and Machine Learning.
Importance of MSMEs
- MSMEs are the backbone of Indian economy. Silently operating in different areas across the country, more than 6 crore MSMEs have a crucial role to play in building a stronger and self-reliant India.
- These small economic engines have a huge impact on the country’s GDP-making a contribution of 29 percent.
- They contribute to almost half of exports from the country.
- Additionally, more than 11 crore people are employed in the MSME sector.