Nitin Gadkari foresees economic opportunity for India amid COVID-19, stresses on MSME role

dressing overseas scholars and students on Sunday, Union MSME Minister Nitin Gkari opined that ongoing ecomic situation was an opportunity for India to attract more foreign investment. Citing that world didn't want to deal with China, he talked about possibility of India becoming a big manufacturing hub. Highlighting that MSME sector accounted for 29% of contribution towards GDP and 48% of exports, he stressed need for an increase in its turver in next two years. Gkari also revealed that his Ministry is preparing a scheme pertaining to MSME payment and shall be presented to Union Finance Minister Nirmala Sitharaman soon.

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Nitin Gkari remarked, "After fighting corona war, we have to fight ecomic war. w, whole world is facing this ecomic crisis. As far as Indian situation is concerned, it is a blessing in disguise. w, whole world is criticising China. world doesn't want to deal with China. This is an opportunity for India to attract foreign investment with new invation, new research, and new techlogy. We can make India a very big manufacturing hub."

"Presently, 29% of contribution to GDP is from MSME. At same time, 48% of export is from MSME. Until w, MSME has created 11 crore jobs. It is a really great challenge about Indian ecomy and industry. We can convert se problems into opportunities. In my ministry, we have decided to give special responsibility to Joint Secretary for foreign investment in industry. We need to focus on rural, tribal, and agricultural ecomy. We need to take turver of MSME to 5 lakh crore in next two years," he ded. 

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vel coronavirus crisis

Currently, re are 26,917 confirmed vel coronavirus cases in India out of which 5,914 persons have recovered while 826 casualties have been reported. With 8068 cases and 342 deaths, Maharashtra has single-highest contribution for any state in India's COVID-19 tally. Meanwhile, Prime Minister Narendra Modi will interact with Chief Minister and or senior officials of each state on morning of April 27 to review fight against vel coronavirus. 

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