Bhubaneswar, Apr 8 (KNN) India Micro, Small and Medium Enterprises (MSMEs) are playing a key role in preserving traditional skills and products, said M. Venkaiah Naidu, Vice President of India.

He said this while addressing the summit on ‘Empowering Young Grampreneurs to Create Jobs’ here.

“MSMEs contribute 6.11% of manufacturing GDP and 24.6% of services GDP. These industries which are often located in rural areas play a vital role in preserving India’s traditional skills and products such as handicrafts and handlooms”, he said.

The summit was organized by the Bharatiya Yuva Shakti Trust (BYST).

He said that unemployment was an area of major concern not only for India but for all the nations.

The possible way to address unemployment was to ‘create the right ecosystem for youngsters to become entrepreneurs and set up their own businesses’, he added.

 “How efficiently and effectively we reap the demographic dividend depends greatly on how effectively we are able to create jobs and train the working population to do these jobs,” Naidu added.

Naidu stressed the need for making agriculture sustainable and profitable, creating market for rural artisans, empowering woman entrepreneurs to sell their crafts by way of online platforms and ensuring access to affordable education and healthcare.

The Vice President also advised young entrepreneurs to start businesses that promote India’s unique, traditional arts and crafts. (KNN/JM)