Micro, small and medium enterprises (MSMEs) are likely to create five crore new jobs in the next five years, minister for MSMEs Nitin Gadkari said on Tuesday.
“Until now, we (MSMEs) have created 11 crore jobs and we are now planning to create five crore new jobs in the next five years,” Gadkari said at a CII event.
The minister said he envisions the MSME sector to contribute 40% to the country’s gross domestic product (GDP) from around 30%; at the same time, the sector’s contribution to the country’s export to go up to 60% from 48% now.
Gadkari said while the Covid-19 pandemic has adversely affected the sector, government extended support to the sector with various policy changes that should enhance their risk-taking abilities, leading to increase in investment.
Gadkari, who is also the minister for road transport and highways, said the government was targeting Rs 25 lakh crore investment in the road development sector, but he did not give any timeline.
Source: Financial Express
