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Published
Nov 18, 2019
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Government unveils policy to create MSME employment, increase exports

Published
Nov 18, 2019

The government has developed policies to create five crore jobs in the micro, small, and medium enterprise sector over the coming five years and expects MSME exports to comprise 60% of total Indian exports.

Union Minister Nitin Gadkari spoke about government initiatives to boost the MSME sector at two recent events - Nitin Gadkari- Facebook


The government aims to boost the MSME sector by lowering logistics, power, and capital costs, Union MSME Minister Nitin Gadkari said at the “Innovation Conclave” in Pune on Friday, the Press Trust of India reported. 

"At a time when cities are growing at a rapid pace, we need to go for decentralisation of development with a focus on agriculture, tribal, and rural development sectors,” said Gadkari, the Press Trust of India reported. "We need technology and innovation for sustainable development of agriculture, rural, and tribal development sectors."

Gadkari underlined the need to build satellite townships around cities in order to decentralise industrial development. He said that each state must assess what it has in terms of resources and use them to create products there is a demand for overseas.

At the inauguration of the 39th Indian International Trade Fair on Thursday, Gadkari said the goal is for MSME exports to total 60% of India’s total exports, up from the current 49%, as reported by the Press Trust of India.

The Innovation Conclave took place on November 15 at the Hyatt Hotel in Pune. The event was organised by the Mahratta Chamber of Commerce, Industries and Agriculture and the Deutsche Gesellschaft fr Internationale Zusammenarbeit and the MSME Ministry. 

The Indian International Trade Fair began on November 14 at the Pragati Maidan in New Delhi and will run until November 27. The event is organised by the India Trade Promotion Organization.

 

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