New Delhi, June 23 (KNN) Commerce and Industry Minister Suresh Prabhu hoped that small and medium enterprises would create more economic opportunities and become the driver of a new India.

He said, "Without the support of MSME sector and startups, we cannot ignite the growth in India."

He was speaking at the 5^th India International MSME Startup Expo at Pragati Maidan that held yesterday in the capital city.

He said, “The Prime Minister made a profound statement that without participation, development and regeneration of small and medium startups, we cannot succeed ignition of new India.”

Further, he pointed out that MSMEs take wealth to different corners of the country, through equitable distribution of wealth, unlike large industries.

He said that MSMEs play a crucial role in exports, in the promotion of industrialization and innovation.

Stressing on the need to promote innovation and startups, Prabhu said that here are 12 crore MSMEs that directly and indirectly engage more than 60 crore people of the country and we must promote them.

He said, “We must promote SMEs, we must promote innovation and startups and that is why our government is committed to do this.”

The agenda of the exposition is to promote entrepreneurship and self-employment to generate maximum job opportunities.

The event will also provide one stop global platform to connect, network, partner and share information with domestic and international SMEs to find new business opportunities in either country. 

Talking about India’s trade relation with other countries, Prabhu said that India is trying to resolve trade disputes with several countries and is willing to create a new world trade order as it extends a hand of friendship to all.

He said that “We are not against any country. We would like to do business with all the countries of the world and therefore I extend a hand of friendship to all of you.”

“Please join us with your ideas and we together can develop the better world, benefit each other. We want India to benefit obviously, but not at the expense of the other country. We would like both to benefit and to do that we are willing to create a new trade order,” he added.

The event will witness more than 20,000 visitors, 250 exhibitors, 100 B2G and B2B meetings, 50 embassies and global participants, 30 banks and investors, 15 PSUs and government departments and 10 concurrent summits.

The Expo is organized by the MSME Development Forum and is supported by the Ministry of Micro, Small and Medium Enterprises (MSME) and the Ministry of Commerce and Industry.