Every year, National Small Industry Day is observed annually on August 30 across India to highlight the important role that small-scale industries (SSIs) play in the country’s economic development. National Small Industry Day aims to acknowledge and honour the contribution of small industries to the economy, employment generation, and regional development of the country. Small industries are the backbone of the country’s economy. They contribute significantly to India’s GDP, exports, and industrial output and provide employment to a large segment of the population, particularly in rural and semi-urban areas. August 2024 Festivals, Events and Holidays Calendar: Complete List of Important National and International Days and Dates in August.
The day serves as a reminder of the importance of supporting small industries, which are essential for achieving balanced and inclusive economic growth in India. Small businesses can be classified based on their annual revenues, shipments, sales, assets, annual gross, net revenue and profits and the number of employees. As we celebrate National Small Industry Day 2024, here’s all you need to know about the significance of the annual event.
National Small Industry Day 2024 Date
National Small Industry Day 2024 is celebrated on Friday, August 30.
National Small Industry Day Significance
National Small Industry Day is an important day that highlights the importance of supporting small businesses and entrepreneurs, who are crucial for creating jobs, and driving economic growth. The small-scale industries are a major source of employment and they play a critical role in reducing unemployment and alleviating poverty.
On this day, various events, including conferences, seminars, and workshops, are organised by industry associations, and chambers of commerce with a focus on issues such as policy support, access to finance, technology adoption, and market expansion for small industries.
(The above story first appeared on LatestLY on Aug 30, 2024 06:00 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).