Recognising MSMEs increases investment acceptability: Amitabh Kant

New Delhi, 31 Dec (KNN) For its second edition of top MSMEs, ET kept its focal point on the achievement of home-grown businesses. 

Expressing his views on this, Amitabh Kant, CEO of Niti Aayog pointed out the vital role of MSMEs in fuelling the economic growth of the country and such ratings help them in many ways, including enhancing their acceptability among investors. 

“The focus on them is more now as India aspires to be a USD 5 trillion economy,” added Kant.

Highlighting its contribution, he mentioned how 6.3 crore units producing more than 8,000 products and a share of around 30% in nominal GDP.

Specifying the factor of merchandise exports he added that it was also growing at a fast pace which signified that Indian MSMEs were globally competitive and their product services were accepted overseas.

He also spoke about the various initiatives taken by the government under the Atmanirbhar Bharat scheme, to support the MSMEs during the pandemic as it is the backbone of the Indian economic structure and has a very important role in buffering it from global economic shocks and adversities.