The Indian government is planning to create 5 crore additional job opportunities in the micro, small and medium enterprise (MSME) sector, union minister Nitin Gadkari said on Monday.
“As compared with China, India has got huge potential. The availability of young talented manpower, raw material and favorable Policy of Centre and State Government is making India a favorite destination for Investors to invest in India,” said Gadkari, who is the minister of Road Transport and Highways, and MSMEs.
“Our target is to take the MSME contribution to the economic growth from 30% to 40% and also increase the MSME export from 48% to 60%,” he added.
Gadkari was speaking at the 2020 Horasis Asia Meeting. The event saw 400 of the foremost business and political leaders from Asia and the world gathered to overcome the profound economic, political and social disruptions caused by Covid-19.
While addressing the virtual event, Gadkari explained how the Indian government successfully managed the Covid-19 pandemic, notably by insisting on social distancing and a population lock-down.
Covid-19 cases in India crossed the 94-lakh mark on Monday.
“Asia as a region is making impressive progress in containing Covid-19, and at the same time is using the pandemic as a means for transformation – to make their respective economies more resilient and sustainable” Frank-Jürgen Richter, chairman of Horasis, was quoted as saying in the statement.