Emphasizing the role of MSME sector as a backbone of Indian economy, Union Minister for Micro, Small and Medium Enterprise (MSME) Nitin Gadkari said that the sector has a huge role to play in generating employment. Mr Gadkari mentioned that this sector holds the greatest potential to increase India’s per capita income growth and GDP growth.
In a dynamic and forward-looking statement, Union Minister proposed a new platform for Indian MSMEs on the lines of Alibaba or Amazon. Such an initiative will make MSMEs in the country accessible to the world and within Indian MSMEs business communication will become far more efficient.
“We are going to open a new website, the name of it would be Bank of ideas, innovation, and research, which will be open for suggestion from the sector,” says Mr. Gadkari while addressing the International SME convention, “With such intiative So, anyone in the world can have access over their products, he added. Presently, MSME contributes 29% India’s GDP and about 50% of country export GDP,” he added.