India must focus on import reduction to become self-reliant: MoS MSME

New Delhi, Mar 9 (KNN) Bhanu Pratap Singh Verma, Union Minister of State for Micro, Small and Medium Enterprises (MoSMSME) said that India can truly become Aatmanirbhar only through the Make in India initiative and by reducing imports.

“The MSME sector contributes around 30 per cent to the Indian GDP, hence Prime Minister Narendra Modi ensured that industries don't get shut during the pandemic and  the production is uninterrupted by launching various schemes like the ECLGS,” he added.

He gave this remarks while speaking at the MSME Excellence Awards & Summit organised by Associated Chambers of Commerce and Industry of India (ASSOCHAM) on Wednesday.

MSME Secretary B.B. Swain highlighted the capability of Indian micro, small and medium enterprises (MSMEs) to establish its presence in the global market.

“The covid-19 pandemic has affected the MSME sector in several ways owing to the pandemic with the top impact felt on technology and finance,” he stated.

Secretary Swain emphasized on the significance of the Union Budget FY22-23 and its far-reaching impact which will help MSMEs in easing out the situation.

Shailesh Kumar Singh, Additional Secretary & DC, Development Commissioner (MSME) was also present at the event who said, the scope of growth & value addition is unlimited in the MSME sector.

He further urged ASSOCHAM to give suggestions for terms of policy formulation and monitoring and informed that the RAM scheme will focus on raising and accelerating MSME performance. (KNN Bureau)