New Delhi, Dec 6 (KNN) Minister of State for MSME Bhanu Pratap Singh Verma said on Monday that the government will work to ensure that interrelationship between the MSME sector and other important pillars of the Indian economy are further strengthened as India grows.

Addressing FICCI's Annual MSME Summit, he said under PMEGP (Prime Minister's Employment Generation Programme), a total of 1.03 lakh new units have been set up in the manufacturing and services sector in the year 2021-22.

He called MSMEs as one of the most important pillars of India's economy and said the government is working to make the sector stronger and more developed.

He urged the industry and other stakeholders to work with the government to make India a USD 5 trillion economy along with becoming self-reliant.

“We are also working to develop the culture of becoming entrepreneurs in the youth, provide loans to MSMEs, improve their quality and increasing their competitiveness to increase their efficiency,” he added.

The minister also said that the MSME ministry is setting up various technology centres across the country to support and strengthen the existing and new MSMEs.  (KNN Bureau)