Govt working on 'import substitution' to encourage MSMEs
New Delhi, Jan 18 (KNN) In a bid to promote Micro Small and Medium Enterprises (MSME) and encourage local manufacturing, the government is working on import substitution.
Speaking on the sidelines of an awards event organised by SME Street here, the Additional Secretary in MSME Ministry Ram Mohan Mishra said that MSMEs have a bright future.
"We are working very vigorously on import substitution not in a negative sense, but so that we have our own manufacturing and services by which we can serve our domestic market," Mishra said.
The MSME ministry has also taken several steps to promote local manufacturing and to boost honey sector. The ministry has requested airlines to provide honey sachets as sweetener while serving tea/coffee to passengers in flights.
''Normally, one spoon of honey is equal to three spoons of sugar. Currently, refined sugar sachets are provided on board to passengers, so we are trying if we can provide honey sachets or honey cubes in flights and hotels,” the Minister had said here on Wednesday at his residence during an interaction with media persons.
'Khadi and village industries have the potential of achieving Rs 5 lakh crore turnover in the next five years,'' he added.
"The turnover of khadi and village industries is Rs 75,000 crore at present. This year, it is likely to reach Rs 1 lakh crore and in five years, it has the potential to reach Rs 5 lakh crore," he avowed.
Gadkari with KVIC, Chairman, Vinai Kumar Saxena also presented various samples of Khadi denims and urged to people to use these products.
''These denims are better than compare to the denims jeans which you all are wearing,'' he added.