To fulfill vision of Atmanirbhar Bharat, role of MSMEs is important: Gadkari
Published: Dec 17, 2020
By TIOLCOPRLAWS News Service
NEW DELHI, DEC 17, 2020: While addressing the valedictory function of the MSME finance week through video conferencing, yesterday, Union Minister for MSME Mr. Nitin Gadkari said that integrated efforts are required to develop a solid finance model which can give MSMEs much needed financial support. He said, this sector is the backbone of Indian economy. To fulfill the vision of Atmanirbhar Bharat, the role of MSMEs is very important. Presently they are facing many problems because of working capital. He said, MSME sector is contributing 30 percent to the GDP, and the mission is to take it up to 40 percent. In Export sector, the contribution of MSMEs is 48 percent, which is to be taken up to 60 percent. He informed that 11 crore job were created by MSME sector.The Minister said, Industry is centralized in urban sector. There should be a shift in this trend. We have to explore the job potential of rural and tribal areas. In this endeavor, Finance institutions' role will be important. To set up small industries in this area, working capital will be needed. For this we have to develop a solid finance model. This will help to fulfill the gap between India and Bharat.
