MSMEs can protect Indian economy against global recession: Union Minister Narayan Rane

New Delhi, Dec 13 (KNN) Union Minister for MSME, Narayan Rane has said that the MSME sector can keep India’s economy safe from the looming global recession. 

Speaking at the PHDCCI States' Policy Conclave 2022 on Monday he emphasised on how India’s G20 Presidency year is crucial for the industry and all stakeholders associated with the MSME sector, reported ET. 

“We must aim that India does not experience any financial crisis and citizens must not suffer as nations like Britain and many others are facing an acute financial crisis,” said the minister. 

He stressed that everyone’s contribution towards this objective would be crucial.

The minister expressed confidence that the MSME sector can play a big role in increasing Indian exports.

Highlighting their capacity, he underlined that MSMEs contribute 49 per cent to the country’s exports. 

The minister added that the future of any business is highly dependent on innovation. 

“It is pertinent to focus on building innovative technologies and capacities of our MSMEs,” he stated. (KNN Bureau)