The Micro, Small and Medium Enterprises (MSMEs) are to play a vital role towards achieving the aim of inclusive growth and lessening the gap between the rich and the poor, Commerce and Industry Minister Suresh Prabhu said.

Prabhu made the remarks during the inaugural event of the International SME convention organized by the Ministry of Micro, Small and Medium Enterprises in the national capital.

Prabhu further said that even in the larger economies like the United States of America, there is a widening gap between the rich and the poor.

“The main challenge before the economies of the world is to go about a growth model that can help reduce the gap. The small and medium enterprises are to play a big role in this”, he said.

Climate control is another challenge before the world at present.

“The smaller the enterprise, the smaller the emission, therefore the SMEs are vital even when it comes to climate control”, Prabhu said.

The ongoing SME convention is hosting over 500 entrepreneurs from India and 150 International Delegates representing 30 Countries.

International delegates participating at the convention belong to the countries including – Australia, Austria, Bahrain, Cameroon, France, Ghana, Guinea, Hungary, Indonesia, Italy, Kenya, Korea etc.

The focus sectors include Agriculture, Food Processing, Alcoholic Beverages, Fruit Beverages, Jewellery, Healthcare - IT, Ammunition, Strategic Defence Training, Coal, Education, Logistics, Bitcoin, Digital Entertainment, Waste Management, Energy, Dairy Products, Seeds & Fertilizers etc. (KNN/DA)