MSME Secretary, BB Swain Addressed Keynote at BRICS MSME Roundtable

SMEStreet Edit Desk July 23, 2021Last Updated: July 23, 2021

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Secretary (MSME), Shri. B.B. Swain gave the keynote address during the BRICS MSME roundtable 21 held today. He addressed the formulation of the future Policy to emphasize creating Roadmap post COVID19 and guide towards creating a business environment for the benefit of MSMEs.

The MSME sector has been one of the top priorities to strengthen the economic ties among BRICS nations.

A BRICS trade fair will be held from August 16-18 the roundtable organized yesterday was a curtain-raiser of the trade fair ahead.

The main agenda of the MSME roundtable was to deepen and strengthen the trade and economy. Mr Swain’s keynote address. emphasized India’s MSME potential.

It also said that of the various groups of BRICS, the Contact Group on Economic and Trade Issues (CGETI) is responsible for economic and trade matters.

The years 2020 and 2021 have been like no other for the Indian micro, small and medium enterprises (MSME) sector, which contributes about 30 percent to the country’s GDP, and is one of the largest job-creating sectors, second only to agriculture.

Moreover, small and medium businesses contribute about 48 percent to exports, making it a major revenue stream for the Indian economy. The government has been taking steps to uplift the sector since last year.