WATCH: Nitin Gadkari states intent to increase MSMEs' contribution to India's GDP from 29% to 50%, reveals employment goals

Union Minister for Micro, Small and Medium Enterprises (MSMEs) Nitin Gadkari inaugurated MSME Day 2019 celebrations and said that boosting aforementioned sector is important to reach Prime Minister Narendra Modi's goal of making India a 5 trillion dollar ecomy.

"Narendra Modi's dream of making India a five trillion dollar ecomy can only be fulfilled by ensuring growth of MSME sector in county. It will be my endeavour to raise contribution of MSME sector to country's GDP to 50 per cent from present 29 per cent, and ensure that it gave employment to at least 15 crore people against 11.1 crore at present," Gadkari said at event on Thursday.

He stressed upon need for research and invation in MSME sector and said collaborating with global entities will bring in latest techlogy in sector.

"re is an urgent need to encour research and invation in sector, to collaborate with global entities to bring in latest techlogy and best practices and also promote marketing. We are thinking of creating a new website where people can post new ideas, suggestions and invations. This will help develop a bank of invation and ideas where all stakeholders can share ir suggestions, techlogies," he said. 

Nitin Gadkari also shared a video on his Twitter:

Union Minister also said that re are plans to develop a portal for creating a market place like Alibaba where all stakeholders can find demand and supply inputs. Pratap Chandra Sarangi, Minister of State (MoS) MSME and Animal Husbandry, Dairy and Fisheries, Secretary MSME Arun Kumar Panda were also present at event. Minister also gave away awards to 100 SMEs selected by a jury from among 34011 minations from across India are also being felicitated under egis of 6th Annual India SME 100 Awards.

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1200 selected entrepreneurs from India are participating in convention. 175 participants from 44 countries and ambassadors from 15 European, African and Latin American countries are also attending convention. participating countries include Bahrain, Maldives, Italy, Hungary, Austria, San Mari, Sri Lanka , USA, Portugal, UAE and Saudi Arabia among ors.

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