Emphasising how India’s G20 Presidency year is crucial for the industry and all stakeholders associated with the MSME sector, Union Minister for MSME Narayan Rane on Monday said that India must strive hard for self-reliance. With global recession looming around major world economies, the minister stated that India can shield itself by strengthening the MSME sector. “Nations like Britain and many others are facing an acute financial crisis.
We must aim that India does not experience any financial
Delving more on the contribution of MSMEs in the country, Rane said the sector can play a big role in increasing exports from India. “MSMEs contribute 49% to the country’s exports. The sector can contribute greatly towards reducing imports and enhancing exports. We must look at making in India more actively so that there is no need to import such products from outside the country,” he highlighted.