Increasing MSME exports will create 5 crore jobs in the next 5 years: Nitin Gadkari

Union Minister of Micro, Small and Medium Enterprises (MSME) Nitin Gadkari has expressed confidence that the government will increase MSMEs exports to 60 per cent from 48 per cent in the next 5 years and will create 5 crore jobs.The Minister while speaking at SWAVALAMBAN e-Summit 2020 organised by ‘Lets Endorse Development’ NGO said that currently, 30 per cent income of GDP growth rate comes from MSME. 48 per cent of our exports are from MSME and till date, we have created 11 crore jobs.

“I believe and think that in the coming 5 years, we should increase it to at least 30 per cent to 50 per cent, 48 per cent to 60 per cent of exports and create 5 crore new jobs,” he said. The minister said that unregistered enterprises need to register themselves under the Micro industry to get the benefit of MSMEs. "We are also in the process to cover small traders. We need help from NGOs to encourage such people to register,” he added. 

Gadkari also asserted that that we now have to think of the alternative to those things which we import from abroad adding, ''we have to increase exports, bring foreign investment, and upgrade technology and make India super economic power.”The MSME minister said that the government will work for the empowerment of people from villages and make them self-reliant. Earlier this month, Nitin Gadkari had announced that the centre is planning to create a deposit-taking ‘social microfinance organisation’ in order to quickly disburse loans of up to Rs 10 lakh to women and small entrepreneurs.