MSMEs to sign over 16k MoUs at Vibrant Gujarat Summit

Gandhinagar, Jan 06 (KNN) Micro, Small and Medium enterprises (MSMEs) have come up with highest number of investment proposals to be signed at the Vibrant Gujarat Global Summit-2017.

MSMEs don’t seems to lose any opportunity to revive the sector growth which has been affected by demonetization.

According to Federation of Gujarat Industries (FGI) it is a positive approach from MSMEs. FGI said that various members of the association is also included in this memorandum to be signed.

“It is good to see that number of participation and contribution of MSMEs is increasing year by year. FGI members are also in the list of MSMEs which will sign the MoUs,” said Nitesh Patel, Secretary General, FGI.

He said that the state government has always worked towards promoting the growth of MSMEs.

“MSMEs are the backbone of the industrial sector of any country and Gujarat always try to contribute in the development of the sector,” said Patel.

He also told KNN that it depends on who is signing MoUs with whom.

MSMEs have lined up 16,634 memorandums of understanding (MoU) for the 8th edition of the biennial summit. With final tally slated to be announced at the valedictory session of the event on January 11, the number is expected to rise further.

The previous instalment of the summit in 2015 had also received overwhelming support from the MSME sector which signed 17,081 MoUs and proposed investments crossing rupees 1 lakh crore. Unlike large and mega projects, according to experts, the project implementation ratio of small industries is much better than bigger ones. (KNN/RAS)