Aims to double the contribution of MSME sector in the country’s economy: Minister

New Delhi, Nov 30 (PTI) Union Minister Bhanu Pratap Singh Verma on Wednesday said the government has set a target of doubling the contribution to the economy by harnessing the full potential of the country’s Micro, Small and Medium Enterprises (MSME) sector.

The contribution of the MSME sector to the country’s gross domestic product (GDP) is currently one-third.

The Minister of State for MSME said that the Ministry is working in this direction by removing bottlenecks before the sector.

Addressing the Global MSME Summit here, Verma said, “We aim to double its contribution to the country’s economy by fully harnessing the potential of the MSME sector.”

The Global MSME Summit is being organized by the industry body CII in association with the Ministry of Micro, Small and Medium Enterprises. Its objective is to promote Indian MSMEs and encourage them to join the international market system.