SMEs have huge contribution towards creating new jobs, tweets MSME Ministry

New Delhi, Jul 3 (KNN)  Ministry for micro, small and medium enterprises (MSME), which is quite active on the social media platforms, today retweeted US Cabinet Member Maria Contreras’ tweet which said that SMEs have a huge contribution towards creating jobs and pulling down unemployment in the US.
 
Maria Contreras-Sweet tweeted, “237,000 net new jobs created. Major contributions made by #SmallBiz, who make up 2/3 of the net new jobs. Unemployment is down to 5.3 per cent.”
 
 In India, the total employment in the MSME sector has increased over three times to 805.24 lakh in the Fourth All India Census of Small Scale Industries as compared to 249.33 lakh in the Third MSME Census.
 
MSME sector employs close to 40 percent of India's workforce and contributing 45 percent to country's manufacturing output, MSMEs play a critical role in generating millions of jobs, especially at the low-skill level. (KNN Bureau)