MSME Play An Important Role In Revival Of Economy: Minister | SupportBiz

News

MSME Play An Important Role In Revival Of Economy: Minister

 
The sector accounts for about 45% of country's manufacturing output and over 40% of exports.

New delhi: The micro, small and medium enterprises (MSME) sector is set to emerge as a potent tool to exploit the demographic dividend enjoyed by India and will play a "much larger role" in the revival of the country's economy, MSME Minister Kalraj Mishra said on Friday.

"The MSME sector, owing to its inherent characteristics and innate strengths, will play a much larger role in revival of Indian economy and emerge as a potent tool to exploit the demographic dividend enjoyed by the nation at present," the Minister said while addressing a symposium on MSME sector here.

Moreover, the government's 'Make in India' campaign and its emphasis upon increasing the share of manufacturing sector in GDP from the present 14-15% to 25% by 2022 have the potential of transforming the fortunes of the sector, the Minister said.

MSMEs are critical to the country's manufacturing sector and foreign trade, Mishra said. The symposium is being attended by more than 400 delegates representing various government departments, industry associations, academia, financial institutions and experts connected with the MSME sector.