India has decided to take the share of exports by micro, small and medium enterprises (MSMEs) to 50 per cent and raise the sector’s gross domestic product (GDP) contribution from 29 per cent to 50 per cent in the next five years, according to Minister for MSME Nitin Gadkari, who recently said 5 cr jobs will be created in five years in the sector.
The Minister was addressing a business summit titled ‘Globalizing the Brand Khadi: The Pride of India’, organised by the Confederation of Indian Industry (CII) in Mumbai, according to a Ministry report. Calling upon enterprising people in the private sector to come forward to promote khadi, he said the khadi sector needs to be strengthened and its turnover needs to be raised further.
He also launched Tech Saksham, a CII Tech Project, aimed at accelerating MSME growth through technology enablement. CII Tech-Saksham for MSMEs, a MSME Ministry-CII project, brings together technology majors Dell Technologies India, HP India, Intel India, Vodafone Idea Ltd, WhatsApp India and Yes Bank to address technological gaps faced by MSMEs in their growth.