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Sarangi lauds MSMEs; says they will play crucial role in achieving $5 trillion economy

Updated: Nov 15, 2019 05:48:40am
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Sarangi lauds MSMEs; says they will play crucial role in achieving $5 trillion economy

Hyderabad, Nov 15 (KNN) Junior Minister for Micro Small and Medium Enterprises (MSME) Pratap Chandra Sarangi lauded the sector's contribution and said it plays a crucial role  in achieving the Centre's target of making the country a $ 5 trillion economy.

Speaking at the presentation of the Achievers Award 2019 at the National Institute for MSME here on Thursday, the Minister said the MSME sector is the largest employment generator after agriculture in the country.

He reminded that earlier Indian companies used to export material and import finished goods due to lack of technology availability. Though it enhanced the trade but it didn't help to generate jobs in the country.

However, after industrialisation, the situation, the country witnessed ample employment generation.

Meanwhile, the Minister of state for Home Affairs G Kishan Reddy also lauded the MSME sector and said that it is the backbone of Indian economy.

Reddy was the chief guest at the valedictory function of Phase I of International Executive Development Programme, 2019-20 was held on Thursday at the National Institute for Micro Small and Medium Enterprises (NIMSME) here.

As many as 70 International Delegates from 28 countries derived the benefit of Indian MSME experience in the past 6 week intensive training at the programme.

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