Govt should organize Labour Summits rather than Global Investors Summit and promote MSMEs: Laghu Udyog Bharati

New Delhi, Oct 21 (KNN) Rather than organizing the big global investors summits to bring foreign investment in the country, the government should rather focus on leveraging the skills of people in India to boost entrepreneurship and encourage MSMEs, Laghu Udyog Bharati (LUB) National President O P Mittal told KNN.

He said it is the MSME sector, the real sector, which can generate employment in the country.

“Big companies do not generate much employment opportunities,” Mittal added.

LUB, the apex body for MSMEs in the country which is quite close to the RSS, has demanded that local employment summits (LES) should be organized instead of global investors summits (GIS).

Mittal said looking at the unemployment rate in India, there is a pressing need to give incentives to the MSMEs and promote them.

He said the big industries are given subsidies but they provided jobs to a few local people only.

MSME sector contributes to 45% of total export and has commendable contribution to the GDP also, he said adding that keeping in view the local climate, the skills of local people and everything else , the rural industries, small industries, micro industries should to set up and promoted.

“It is the MSME which need incentives and subsidies,” he added. (KNN Bureau)