National Small Industry Day is an annual celebration that recognizes the value of small businesses in our society. Every year on August 30, the country celebrates National Small Industry Day. The day is dedicated to encouraging small businesses around the country. This day is observed with the goal of encouraging small businesses and offering job chances to the jobless. In a developing nation like India, a small-scale sector plays an essential part in economic growth. Keeping in view the strategic relevance of this sector, special emphasis has been placed for its development.
SIGNIFICANCE OF THE DAY
So far, the central government has made every effort to establish small-scale enterprizes around the country in order to help people find work. The goal of marking this day is to emphasise the importance of small-scale enterprises in creating work possibilities for individuals living in both rural and urban regions. Since the small businesses are labour-intensive, the units of capital engaged in them retain a higher proportion of employment.
Another major goal is the equitable allocation of economic power. The cottage and tiny industry commercialize economic power. Furthermore, the small industry paves the way for industrial marketing. This enables the country’s economic progress by minimizing technical imbalance and regional technological inequality.