New Delhi, April 11 (KNN) Federation of Indian Micro and Small & Medium Enterprises (FISME) has suggested to UN-ESCAP and Government of India to promote business innovation in the field of Environmental, Social and Governance.  

Reacting to the Policy note issued by UN-ESCAP on ‘Policies to enable business innovation for inclusive and sustainable development’  an issue to be discussed during 78th session Economic and Social Commission for Asia and the Pacific (ESCAP) in Bangkok during 23-27 May 2022, FISME has posited specific suggestions for Environment friendly entrepreneurship, Impact investment in MSME clusters and Social Enterprises in Education and Healthcare. 

“Vision of FISME on promotion and development of Environmental, Social and Governance entrepreneurship is in consonance with the ESCAP Policy Paper. The vast MSME sector of India is the largest employer predominantly of the people at the bottom of the pyramid and so has the biggest impact investment in the economy’, says Anil Bhardwaj, Secretary General of FISME. 

MSMEs are also participating in the entire business value chain of the organised manufacturing particularly where it is dirty, dangerous and generally having low value addition. MSMES in India are also the largest employer of women and weaker sections.

Suggesting need for right Technology, FISME has opined millions of small businesses in the unorganised sector are engaged in collecting, transporting and disposing of the city garbage and industrial solid wastes including the burgeoning Electronic Wastes in India. However, due to inaccessibility to adequate capital and appropriate technology the procedure is primitive causing widespread health hazards.

“Here ESCAP Secretariat may come forward to provide technology for environment friendly handling of solid waste and Government of India may provide easy finance for adopting the technology by the Indian handlers of solid waste’, Bhardwaj added. 

FISME communique further notes that thousands of MSME clusters in India produce a varied range of items including Handlooms & Handicrafts providing employment to women and youth from the weaker sections. But these clusters are on decline.  Technical support from ESCAP can help adoption of environment friendly processes and better designs leading to rejuvenation  of these clusters. (KNN Bureau)