India Sunday pitched for promoting micro, small and medium enterprises (MSMEs) in developing countries as they are important for employment and income generation.
This was emphasised by Commerce and Industry Minister Piyush Goyal at a session on ”Promotion of Trade and Investment that contribute to Sustainable and Inclusive Growth’ at G20 Summit in Japan.
He stressed that there is a need to support MSMEs in developing countries to spur job creation and promote trade in a sustainable manner.
Supporting greater participation of MSMEs in developing countries are crucial for jobs and income generation, he added.
The minister said that free trade and investments will benefit developing countries when they remain development centric.
“Deviation from this fundamental objective is the main reason for increasing disparities within and across nations. Even today a large number of nations are still struggling to effectively integrate in the global trading system, which raises doubts about their efficacy,” Goyal said.
Critical linkage between financial and human capital also needs to be recognised to promote trade and investments in a sustainable and inclusive manner, he added.
Source: Business Standard
