MSMEs likely to create five crore new jobs in next five years: Shri Nitin Gadkari

The minister said he envisions the MSME sector to contribute 40% to the country’s gross domestic product (GDP) from around 30%; at the same time, the sector’s contribution to the country’s export to go up to 60% from 48% now.

Micro, small and medium enterprises (MSMEs) are likely to create five crore new jobs in the next five years, minister for MSMEs Nitin Gadkari.

 

“Until now, we (MSMEs) have created 11 crore jobs and we are now planning to create five crore new jobs in the next five years,” Gadkari said at a CII event.

The minister said he envisage the MSME sector to contribute 40% to the country’s gross domestic product (GDP) from around 30%; at the same time, the sector’s contribution to the country’s export to go up to 60% from 48% now.

Shri Nitin Gadkari said while the Covid-19 pandemic has adversely affected the sector, government extended support to the sector with various policy changes that should enhance their risk-taking abilities, leading to increase in investment.

 
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