India, Oct. 9 -- Prime Minister Narendra Modi, in his address to the nation on 21 September, urged the people to promote swadeshi and buy indigenous goods. Prime Minister Modi's appeal came amidst tariff tensions with the United States and growing challenges for India's small and medium enterprises. In fact, India's micro, small, and medium enterprises (MSMEs) have a very important role to play in strengthening local manufacturing and driving self-reliance in the wake of these challenges.

The most important issue is to have an empowered small and medium enterprises sector because that's where the true strength of this country lies. There are over 7.34 crore MSMEs operational in India, employing approximately 26 crore individuals. If the ...