New Delhi, Dec 8 (KNN) The true victory of policy makers in the SME space will be to see these enterprises' transition from small to large enterprises, Anup K Pujari, Secretary, Ministry of MSME said adding that the Ministry of MSME is prepared to work towards this goal with support from various stakeholders. 
 
Speaking at the Opening Session of the Global SME Business Summit, organised by CII, Pujari said that Indian MSMEs are increasingly becoming more vibrant, which has resulted in their increasing share to the country’s GDP, employment and productivity. He said that the Government is constantly working towards further enhancing the capabilities of the Indian SME sector.
 
Arvind Panagariya, Vice Chairman, NITI Aayog, said that enterprises with less than 20 employees comprise of 73% of employment generation in the manufacturing sector.  
 
He said 88% of manufacturing output however is churned out by enterprises employing greater than 20 workers. This, he opined, clearly revealed the fact that growing enterprises contribute more to the economic output as well as lead to SME growth.  
 
Partricia Hewitt, Chair, UK India Business Council emphasised on the need to strengthen partnerships and enhance trade relations between the two countries. She added that it is imperative for SMEs in both country to work closely together so they can grow together.
 
She also confirmed that UK is working with the Indian Government and some State Governments to dismantle regulations. Many UK based firms have invested in India, many with 100% FDI, and contributed to the ‘Make in India’ campaign initiated by Narendra Modi, she added. (KNN Bureau)