Centre planning to create 5 cr employment opportunities in MSME sectors: Nitin Gadkari

While addressing the 2020 Horasis Asia Meeting, Union Minister Nitin Gadkari on Monday stated that the Central government is planning to create 5 crore employment opportunities in addition to the existing ones in Micro, Small and Medium Enterprises (MSME) sectors alone.

"The government is planning to create 5 crore more employment opportunity from MSME sectors only. In the coming years, India will become the top automobile manufacturing hub in the world," Gadkari said in a significant revelation in uplifting the job market in the country," Gadkari said. 

"As compared with China, India has got huge potential. The availability of young talented manpower, raw material and favourable Policy of Centre and State governments gives an excellent opportunity for investors to invest in India," he added.

Gadkari stated that the government's target is to take the MSME contribution to the economic growth from 30% to 40% and also increase the MSME export from 48% to 60%.

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Horasis Asia Meeting 2020

The first-ever virtual Horasis Asia meet witnessed the participation of 400 leaders of business and political spectrum from across the world to prepare for the region's post-coronavirus pandemic and overcome the economic, political and social challenges posed by the pandemic. Frank-Jurgen Richter, Chairman of Horasis called the virtual meet, a great success with the presence of 400 speakers including ministers from India, Philippines, Indonesia, Vietnam, Thailand and Hong Kong as well as industry leaders.

"Participants agreed to join hands and to cooperate - in the spirit of true multilateralism and public-private partnership. Asia as a region is making impressive progress in containing COVID-19, and at the same time is using the pandemic as a means for transformation - to make their respective economies more resilient and sustainable," the union minister said.

Reportedly, the focus of the meeting was on rebooting economic activity, how job creation in the region would look like going forward, and how greater sustainable development can occur in the region in a post-coronavirus world.

Shahriar Alam -- Minister of State for Foreign Affairs; Bangladesh, Ramon Lopez -- Secretary of Trade and Industry, The Philippines; Fabrizio Hochschild -- Under-Secretary-General, Special Adviser on Preparations for the 75th United Nations Anniversary; Johnny G. Plate -- Minister of Communication and Information Technology, Indonesia were also present apart from Nitin Gadkari -- Minister of Road Transport & Highways, Shipping and of Micro, Small and Medium Enterprises, India.

(with inputs from ANI)

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