January 9, 2015: MSME minister Kalraj Mishra said that the MSMEs are here to play a major role in the economic revival of the country. He added that the MSME sector will also emerge as a potent tool in order to exploit the demographic dividend enjoyed by the country presently. While addressing a symposium on the MSME sector held in Delhi, he added that the MSMEs will play a vital role in resurgence of the Indian economy.
Adding to his comments, he said that the ‘Make in India’ initiative launched by the government has its emphasis upon expanding the share of manufacturing sector in the gross domestic product (GDP) from the current rate of 14-15 per cent to 25 per cent by the year 2022. He said that these goals have the potential to change the luck of MSME sector.
Kalraj Mishra added that MSMEs are very essential for the manufacturing sector and foreign trade of the country.
Interestingly, the MSMEs account for around 45 per cent of the country’s total manufacturing output and 40 per cent of the total exports.
