A four-member Namibian Parliamentary Standing Committee Delegation led by Hon Peya Mushelenga called on Shri Dinesh Rai, Secretary, Ministry of Micro, Small & Medium Enterprises (MSME) here. Welcoming the delegation, Secretary, Micro, Small & Medium Enterprises Shri Rai explained the various facets of the MSME sector in India.
Giving details about the present scenario of MSME sector in India Shri Rai said that it was estimated that in terms of value, the sector accounted for about 40% of the manufacturing output and around 40% of the total export of the country. Further, in recent years the MSME sector has consistently registered higher growth rate compared to the overall industrial sector.
The major advantage of the sector is its employment potential at low capital cost. Shri Rai further said that the basic focus, of late, has been to make collateral-free credit available to the potential entrepreneurs as also to encourage private participation in MSME sector.
The Namibian side evinced keen interest in Indian MSME sector, especially in the field of precious stones and gems and jewellery. Shri Jawhar Sircar, Addl.Secretary and Development Commissioner and other senior officials of the ministry were also present on this occasion.
Press Information Bureau Government of India
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