MSME plays key role in becoming USD 5 trillion economy- UnionMinister Hyderabad, Nov 14 (PTI) Union Minister Pratap ChandraSarangi on Thursday said the MSME sector plays a crucial rolein achieving the Centre's target of making the country a USDfive trillion economy.
Speaking at the presentation of the Achievers Award 2019atthe National Institute for Micro Small and MediumEnterprises here, the Minister of State for Micro, Small andMedium Enterprises said the MSME sector is the largestemployment generator after agriculture in the country.
He said earlier Indian companies used to export materialand import finished goods due to lack of technologyavailability.
Though it enhanced the trade, the model did not helpgenerate jobs in the country.
However, after industrialisation, the situation, thecountry witnessed ample employment generation.
Meanwhile, the Minister of state for Home AffairsG Kishan Reddy said the MSME sector is the backbone of Indianeconomy and the Prime Minister, Narendra Modi is the reasonbehind Skill India as his contributions towards the sector areimmense.
Reddy was the chief guest at the valedictory function ofPhase I of International Executive Development Programme,2019-20 was held on Thursday at the National Institute forMicro Small and Medium Enterprises (NIMSME) here.
As many as 70 International Delegates from 28 countriesderived the benefit of Indian MSME experience in the past 6week intensive training at the programme. PTI GDKROH ROH