Union Minister Jayant Choudhary Urges Enterprises to Prioritize Quality for Global Competitiveness

Bhubaneswar: Union Minister of State for Skill Development and Industry, Jayant Choudhary, on Saturday called on Indian enterprises to prioritize quality and innovation in their products to stay competitive in the global marketplace.

Speaking at the valedictory session of a two-day skill development workshop titled “Promoting Entrepreneurial Growth: Economic Inclusion, Market Access, and Digital Skills Development,” Choudhary emphasized that the world is looking toward India not just for its goods but also for the capabilities of its entrepreneurs and workforce.

“To enhance India’s global competitiveness, enterprises must focus on producing world-class products and invest in nurturing entrepreneurs with the right skills and support,” the Minister stated.

Citing the Union Budget 2025, Choudhary highlighted several key initiatives, including the sanctioning of around ₹10,000 crore in loans under the Fund of Funds (FoF) scheme to support women and marginalized communities in their entrepreneurial ventures.

He also underlined the importance of awareness and access, stating that government schemes can only succeed if citizens are informed and empowered to utilize them effectively.

Organized by the National Institute for Small and Medium Enterprises Development (NIESBUD) in collaboration with the Ministry of Skill Development and Entrepreneurship, the workshop brought together more than 100 emerging entrepreneurs from Odisha, Bihar, Jharkhand, and Chhattisgarh, many of whom were trained under the Ministry’s ‘Riksal’ programme.

The event featured expert-led panel discussions on entrepreneurship challenges such as limited financial access, digital adoption, and market barriers. Sessions also focused on government economic schemes, institutional credit, venture capital, and alternative business models to drive growth.

A key highlight of the event was the signing of a Memorandum of Understanding (MoU) between NIESBUD and IIM Sambalpur to further promote entrepreneurship and innovation in Odisha.

The workshop aimed to foster an entrepreneurial mindset and provide practical roadmaps for scaling businesses, financial literacy, and professional networking. The initiative supports India’s broader vision of becoming a self-reliant, digitally empowered, and inclusive economy.