MSMEs are the Growth Engines for India's Business Development: Nitin Gadkari

Union Minister of Road Transport and Highways and MSME, Nitin Gadkari, inaugurated the 39th India International Trade Fair (IITF). He was accompanied by the Minister of State for Commerce and Industry Shri Som Parkash. The fair has been an unprecedented platform for exhibiting the entrepreneurial skills and ingenuity of the Indian public.
MSMEs are the Growth Engines for India's Business Development: Nitin Gadkari
Image credit: PIB
Entrepreneur Staff
Correspondent, Entrepreneur India
3 min read

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Gadkari expressed his views on the role of MSMEs in the growth of the nation and its economy. The edition of the fair is based on the theme related to “Ease of Doing Business” inspired by the unique achievement of India for bagging the 63rd rank on the World Bank’s Ease of Doing Business Index 2019 from 142nd rank in the year 2014.

Gadkari addressed the gathering at the event and said “the country has made progress and achieved milestones in the field of small businesses. He added and MSMEs contribute up to 29 per cent of India’s total exports.” 

Bringing in the employment aspect, He mentioned that MSME sector has generated employment to over a crore people recently.

Also Read: "We Should Contribute To the Green Economy": Additional Secretary, MSME, Ram Mohan Mishra

 Importance of Entrepreneurs in the  MSME Sector 

In a quest to bring innovative ideas and efforts in MSMEs, Gadkari called upon the creative entrepreneurs belonging to their specific work areas to come forward with fresh ideas on improving designs, harnessing businesses and reducing costs of. Entrepreneurs play a vital role in pushing enterprises ahead with their progressive efforts and collective thought process. Through their efforts, small and medium companies get a boost to increase production without increasing costs, giving rise to augmented economy. 

Also Read: 3 Tips by Nitin Gadkari to Boost Infrastructure and MSMEs

Raw Materials and Minerals:- Business Opportunities 

Minister mentioned about the natural richness of the nation and its traits to turn itself into a business or industrial production opportunity. He said that various states are abundant with rich minerals and raw materials are abundant in various states. The need is to transform them into an industrial opportunity and set up production plants. He added that the government is working on setting up new technology training centres for quality production,hence,.making the produced material is globally acceptable and attractive to international investors and buyers.

About IITF (India International Trade Fair)

IITF offers opportunity for large corporations, Micro, Small and Medium Enterprises, non-government agencies, artisans, self-help groups (SHGs) to promote their products and services to a very large number of potential  customers. The fair is an important platform for various departments and agencies  of central and state government for dissemination of information on progressive reforms, new schemes and initiatives. It serves as a convergence point for government agencies, private sector enterprises, and non-government institutions which have aligned their activities with the country’s development objective.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur