MSME sector growth engine for India’s development: Gadkari

MSME sector growth engine for India’s development: Gadkari

Agency News

New Delhi, Nov 14 : Minister for Road Transport and Highways Nitin Gadkari on Thursday hailed the Micro, Small & Medium Enterprises (MSME) sector for generating employment to more than one crore people recently and said that it is the growth engine for India’s development.

"Country has made good progress in the field of MSMEs which contribute up to 49 per cent of India’s total exports." Mr Gadkari said while inaugurating the 39th India International Trade Fair(IITF).

He also said that the MSME should understand the needs of the foreign market and design their products in a way they are able to increase the sector’s share in exports to around 60 percent.

The minister called upon the entrepreneurs to come forward with new and fresh ideas on improving designs, reducing costs, and harnessing businesses. He said, various States are abundant with rich minerals and raw materials.

“The need is to convert them into a business and industrial opportunity,” he added. The Minister informed the audience that the government is working on setting up new technology training centres for quality production, which is internationally acceptable. Minister of state for Commerce and Industry Som Parkash, who also took part in the inauguration, underlined the importance of the theme of the 39th IITF ‘Ease of Doing Business’ and said, MSME sector has to play an important role in accomplishing the twin targets of doubling the farmers’ income by 2022, and making India a Five Trillion Dollars Economy.

Lauding the Fair, he said, such events help in positioning the ‘Brand India’ globally. The Minister also praised the idea of banning single use plastic in the IITF 2019. The theme for this edition of the Fair is “Ease of Doing Business” inspired by the unique achievement of India of rising up to the 63rd rank on the World Bank’s Ease of Doing Business Index from 142nd rank in year 2014.

The fair is an important platform for various central and state government departments and agencies for dissemination of information on progressive reforms, new schemes and initiatives. It serves as a convergence point for government agencies, private sector enterprises, and non-government institutions which have aligned their activities with the country’s development objectives. Several countries, including Australia, Iran, UK, Vietnam, Bahrain, Bangladesh, Bhutan, China, Egypt, Hong Kong and Indonesia, are participating in the 14-day trade fair. This year, the status of Partner Country has been accorded to Afghanistan, while Bihar and Jharkhand are the focus States. (UNI)