Lucknow, Aug 30 (KNN) Uttar Pradesh Chief Minister Yogi Adityanath has made an appeal to businessmen and traders associated with MSME sector to invest in the proposed defence industrial corridor coming up along Bundelkhand Expressway.

While addressing a seminar on MSME here, he said "The sector would play a significant role in making India a five-trillion dollar economy as envisioned by Prime Minister Narendra Modi."

If the state of MSMEs improve, it will strengthen this sector at the national level, he added.

Highlighting the importance of MSMEs, Yogi said, “This sector creates maximum jobs at local level with the lowest capital. Due to less burden on the government and low investment, the risk of banks lending money to this sector is also low.”

He added that the MSME sector had a rich tradition in Uttar Pradesh but due to lack of government promotion it started waning in the last decade.

Speaking on the ocassion, Union Minister of State for MSME, Pratap Chandra Sarangi, said that after agriculture, MSME was the second largest sector having potential of employment generation.

However, he said, the development of this sector was often hampered due to non-cooperation by bankers.

Further,  he informed that the Government of India, in collaboration with Finance Ministry, is now finding a solution for this issue. In future, banks may be answerable if they deny loan to proper candidates,” Sarangi added.