Mumbai, Sep 28 (KNN) More Micro Small and Medium Enterprises (MSMEs) should get listed on the exchanges to fund growth and reduce the burden on lending sector, said Nitin Gadkari, Union Minister for MSME.

He was speaking at the at the second foundation day of JITO Incubation and Innovation Foundation (JIIF). JIIF is a subsidiary body of Jain International Trade Organisation (JITO).

He said “Such a move would allow the companies to get funds to expand their business globally, bringing in more revenue for the country, while investors will get good returns on their investment.”

The government aims to increase MSME sector’s contribution to the GDP to 50% in the next five years and increase its exports exponentially and to achieve these targets, the cost of capital, logistics and power must be brought down for the MSMEs, making them globally competitive.

Speaking about the JIIF event, the minister highlighted the importance of investing in knowledge, research, technology and innovation to find viable solutions to India’s varied social and economic problems.

“Entrepreneurship is more important than technology and innovation because it has the power to convert knowledge into wealth,” he added.

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