Govt aims to enhance MSME contribution to GDP from 30 to 50 per cent


NATIONAL | Sept 10, 2020:

Minister of Micro, Small & Medium Enterprises, Nitin Gadkari has said that Government aims to enhance MSME contribution to GDP from about 30 per cent to 50 per cent and in exports from 49 per cent to 60 per cent.

While speaking at a virtual meet organised to launch Aatmanirbhar Bharat ARISE Atal New India Challenges by NITI Aayog today, Gadkari said, Government is aiming to create 5 crore additional jobs in the MSME sector which presently employs about 11 crore people.

He applauded the Aatmanirbhar Bharat ARISE Atal New India Challenge initiative of Niti Ayog and called for using technology in finding solutions to the problems being faced in different areas ensuring value addition.

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The Minister cited the issue of excess rice which can be utilised for producing ethanol thereby addressing the problem of storage on the one hand and providing green fuel to the country as import replacement on the other.

He said risk-taking ability in innovations or finding new solutions need to be promoted and those making bonafide mistakes in the process need to be protected.

Gadkari stressed that the country's growth will be further accelerated when the backward and tribal areas including the 115 aspirational districts are brought on a growth trajectory.

He further advocated broad basing support for innovations and entrepreneurship so that bonafide new talent also gets a chance to grow.

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Gadkari also felt that a performance audit of Schemes for agriculture and ST/SCs will help in better targeting the schemes.

The objective of Aatmanirbhar Bharat ARISE Atal New India Challenges programme is to proactively collaborate with Ministries and the associated industries to catalyse research, innovation and facilitate innovative solutions to sectoral problems.