MSMEs Should Get Double Digit Growth to Achieve India's Target of 5 Trillion Dollar Economy

Micro, small and medium enterprises (MSME) sector must record a double-digit growth to help India become a USD 5 trillion economy, said SIDBI Regional Officer (Telangana) GM Pramod Kumar Vijayvargia said on Thursday.

Explaining MSMEs’ role in attaining the government’s ambitious target, he said that MSMEs must register a 50 per cent share in GDP.

He was speaking at the Orientation Program on MSME Eco-System Development in the State organised by FTCCI.

Vijayvargia informed that SIDBI has set up Project Management Units (PMUs) in 20 states to help the MSME sector.

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In his welcome address, Srinivas Garimella, Chair IDC committee FTCCI pressed on the lack of awareness of schemes and said that it is hindering the progress of MSME sector in our country.

Officials from the state government of Telangana, SIDBI, Grant Thornton, FTCCI members attended the event.