Govt aims to raise MSME sector contribution from 29% to 50%: Gadkari

Union Minister of Road Transport & Highways and Micro, small and medium enterprises (MSME) Nitin Gadkari today said that contribution of MSME sector to the country’s economy is 29 per cent and the Government aims to increase it to 50 per cent.

The Minister was speaking at the inauguration of the Innovation Conclave in Pune today. He said, the country’s exports 39 per cent of MSME products at present.

Mr Gadkari said, in future, the government wants to take the export target to 60 per cent. He said, at present between 10 and 11 crore jobs are available in the MSME sector.

The Minister said the Centre is working to increase the employment by another five crore in the next five years.

Later in the day, speaking at a National Conference on ‘Logistics, Transportation and MSME Sector Opportunities, Mr Gadkari said, logistics, transport and MSME sectors are crucial for achieving five trillion dollar economy goal set by the Prime Minister Narendra Modi.

The Minister said that MSMEs have to accept changes brought in by new technology to become more efficient. He emphasized the need for a skill-based education in India.