Madurai (Tamil Nadu)/IBNS/UNI: Prime Minister Narendra Modi Tuesday said the Micro, Small and Medium Enterprises (MSMEs) have a great opportunity to become part of the global supply chain.

Addressing the MSMEs entrepreneurs working in the automotive sector in Tamil Nadu's Madurai this evening, PM Modi said: "MSMEs are key players in propelling the automotive industry forward and are vital to the nation’s economic growth."

He said several cars have used components manufactured by India’s MSMEs. "Many global opportunities are knocking at our door today. Hence, our MSMEs have a great opportunity to become part of the global supply chain," the PM said.

"Small industries played a big role in India's victory over Covid. That's why India is looking at the future of MSMEs as its own future," PM Modi said.

He said the government had created a separate ministry for skill development.

"I believe skill plays a big role. So, we need skilled universities that keep upgrading themselves regularly. With support for Electric Vehicles, MSME sector is also getting new opportunities.

"We want to scrap all old vehicles to enable new modern vehicles in the market. This is a great opportunity for all industrialists," the Prime Minister said.

He said our country has been at the top in shipbreaking globally. "We have become a market for recycled material from ship breaking. We need to take advantage of these materials," he said.

"It's great pleasure to be amongst such minds of technology and innovation. It's like I am visiting a laboratory which is shaping the future. Tamil Nadu has proved itself globally in the field of automotive industry," he added.

Later, the PM launched two major initiatives designed to support and uplift MSMEs in the Indian automotive industry. The initiatives include the TVS Open Mobility Platform and the TVS Mobility-CII Centre of Excellence.