Vision is to double MSMEs contribution in Indian economy: Minister

09 Jul '21

1 min read

Narayan Rane taking charge as the Union minister for MSMEs; Pic: PIB

India’s new minister of micro, small and medium enterprises (MSMEs) Narayan Rane plans to work on a vision to unleash full potential of the sector to double its contribution in the Indian economy. He also aims to ensure highest level of sustainable development and thereby transform the lives of millions through jobs, exports and inclusive growth.

Addressing the media after taking charge, Rane said that MSMEs are amongst the strongest drivers of economic development, innovation and employment. He added that numerous measures are being taken to empower the MSME sector and urged ministry officials to make a lasting contribution in their respective fields towards the upliftment of MSMEs.

Rane assumed charge of the MSME ministry on Thursday, along with Bhanu Pratap Singh Verma who assumed charge as the minister of state for MSMEs.

Verma stated that constant efforts are being made towards upliftment of MSMEs under ‘self-reliant India’ through various schemes for infrastructure development, credit & financial assistance, technology up-gradation, and skill development along with interventions like upward revision of MSME definition to include large number of business units and exporters etc.

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