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MSMEs to contribute 50% to GDP in next 5 years: Nitin Gadkari

Gadkari added that the sector currently employs about 11 crore people and the government would take this figure to 15 crore in the next 5 years.

ETMarkets.com|
Aug 22, 2019, 01.20 PM IST
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According to unofficial estimates, there are 6 crore MSMEs in the country, Gadkari said.
MUMBAI: Minister of MSME and Road, Transport and Highways Nitin Gadkari expects the micro, small and medium enterprises (MSME) sector to contribute 50 per cent to the total GDP in the next five years. The sector currently contributes 29 per cent to the country's GDP.

Speaking at the celebration of 200th listing on the NSE’s SME platform EMERGE, Gadkari said, "The MSME sector contributes 29 per cent to country's GDP, and the government plans to take it to 50 per cent in next 5 years."

Gadkari added that the sector currently employs about 11 crore people and the government would take this figure to 15 crore in the next 5 years.

NSE Emerge Platform has helped SMEs raise Rs 3,136 crore, and has a market capitalization of Rs 8,800 crore.

Of the 200 companies listed on NSE Emerge, 22 SMEs have over time migrated to the main board of NSE.

According to unofficial estimates, there are 6 crore MSMEs in the country, Gadkari said.

He said the government has launched 'Udyog Mitra' - to encourage people to register their MSMEs.

He added that the government is launching an e-commerce project called 'Bharatcraft' for MSMEs, similar to online shopping portals.

Over the weekend, Gadkari acknowledged delayed payments as a major headache for MSMEs, adding that he was trying to find a solution to the issue.



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