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Gadkari Expresses Commitment To Raise MSME’s Contribution to GDP to 50 percent

Union Minister for Road Transport & Highways Mr Nitin Gadkari (file photo)

New Delhi:

Port Wings News Network:

Shri Nitin Gadkari, Union Minister for Micro Small and Medium Enterprises (MSME)  and Road Transport & Highways,  inaugurated the MSME Day 2019 celebrations and the second International SME Convention in New Delhi on 27 June 2019.

Speaking on the occasion he said that  Prime Minister Shri Narendra Modi’s dream of making India a 5 Trillion Dollar economy can only be fulfilled by ensuring the growth of the MSME sector in the county. He said that in the coming years it will be his endeavour to raise the contribution of MSME sector to the country’s GDP to 50 percent from the present 29 percent, and ensure that it gave employment to at least 15 Crore people against the 11.1 Crore at present.

Emphasizing the Government’s commitment towards creating an enabling environment for the growth of the sector, Shri Gadkari  said there is an urgent need to encourage  research and innovation in the sector, collaborate with global entities to bring in the latest  technology and best practices and also promote  marketing. For this he has proposed creating a new website where people can post new ideas, suggestions and innovations. This will help develop a bank of innovation and ideas where all stake holders can share their suggestions, technologies etc.

Minister also said there are   plans to develop a portal for creating a market place like Alibaba where all stakeholders can find the demand and supply inputs.

Shri Gadkari lay emphasis on the need to diversify in new MSME potential sectors especially in the rural and agricultural sectors. He said  the International SME convention can play a crucial role as it is a great platform for discussing and sharing the best practices for enterprise development.

Also speaking on the occasion Shri Pratap Chandra Sarangi, MoS MSME and Animal Husbandry, Dairy and Fisheries said that it is very heartening to note that  so many Indians are now involved in their own enterprises and are in positions to provide employment to people. He said that the MSME sector has immense potential as a driver for economic growth and employment generation in the country.

Speaking earlier Secretary MSME Shri Arun Kumar Panda said the MSME sector is the backbone of the country’s economy. He said the sector is changing very fast . With the coming of  GST, many micro and small enterprises have come into the fold of the firmal economy, which is a very good sign.

The Minister also gave away awards to 100 SMEs selected by a jury from among 34011 nominations from across India are also being felicitated under the aegis of the 6th Annual India SME 100 Awards

The convention is being organized to mark the International MSME Day today. It is also the  second edition of  the International SME Convention, first held in April last year. The  Ministry of MSME is organizing this convention in association with India SME Forum.  The objectives of the Convention are

To boost the international competitiveness of the Indian MSMEs by making them aware  of global trends and  practices and standards in export financing, along with experience sharing by successful exporters.

Provide the MSMEs a platform to understand the opportunities in the international market and encourage them to evaluate options and opportunities of international trade.

Disseminate information on global market demand, ease of export financing for exports; and developing strategies to penetrate new markets.

1200 selected entrepreneurs from India are participating in the convention. 175 participants from 44 countries and ambassadors from 15 European, African and Latin American countries are attending the convention. Countries participating include Bahrain, Maldives, Italy, Hungary, Austria, San Marino, Sri Lanka , USA, Portugal, Tunisia, El Salvador, Sudan, UAE, Zimbabwe , Gabon , Peru, Panama,  Guatemala , Iran, Argentina , Canada, Bhutan, Malawi, New Zealand, Fiji, Spain , Colombia, Uzbekistan, Ukraine, Senegal , Saudi Arabia , Rwanda .

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