New Delhi, October 30: The Micro Small and Medium Enterprises (MSME) sector is the backbone of the Indian economy and has created 11 crore jobs so far, MSME Minister Nitin Gadkari said on Thursday. While speaking at the 'Namaste Bharat Exhibition', Gadkari said that the MSMEs contribute to the 30 percent to GDP. He said that as far as export is concerned, it is 48 percent and up till now, 11 crore jobs have been created by the MSME sector.
At the 'Namaste Bharat Exhibition', Gadkari said that presently, MSME is the most important sector for the country. “I say it is the backbone of Indian economy," Gadkari said at the 'Namaste Bharat Exhibition'. Gadkari was addressing the virtual inaugural ceremony of the 10-day 'Namaste Bharat' exhibition.
The 10-day Namaste Bharat is the first of its kind exhibition for promoting ''Made in India'' products globally. "We are giving highest priority for how we can reduce our import and increase our exports. The global economy is an open platform where the quality, cost and scale of marketing of products are very important factors. Presently, MSMEs are the backbone of the country," the MSME minister said.
About Namaste Bharat Exhibition:
Namaste Bharat is backed by the Federation of Indian Export Organisations (FIEO) and the High Commission of Singapore. It has been conceptualized and curated by Singapore's leading events and marketing company De Ideaz. The exhibition will see over 300-plus local Indian exhibitors showcasing over 1,00,000 Made in India products.