MSME Sector Is Backbone Of Indian Economy: Kishan Reddy

Hyderabad, Nov.14 (Maxim News): The Minister of state for Home Affairs G. Kishan Reddy said , “MSME sector is the backbone of Indian Economy”. He also said the Prime Minister Narendra Modi is the reason behind Skill India and his contributions towards the MSME sector are immense. The minister was the chief guest at the valedictory function of Phase one of International Executive Development Programme, 2019-20 held here today. 70 International Delegates from 28 Countries derived the benefit of Indian MSME experience in the past 6 week intensive training.

The minister said that the courses offered in MSME: Empowerment of women through enterprises, promotion and development of micro small and medium enterprises and promoting micro enterprise are in tune with the need of the time.The phase of development has changed during the last five and half years.

Organizations like MSME working silently and continuously for up gradation of skills and understanding of the markets, and able to provide employment for lakhs of youth in each year, the minister said. MSME sector which is vibrant and dynamic is making good strides towards promotion of entrepreneurship contributing towards country’s economy.

The minister is of the opinion that the skills should be basic part of education; every child should acquire one or more skill. The new education policy in India has understood this issue positively.

He said there are 63.4 million MSMEs in India which contributes around 29% of India’s GDP, 49 % of exports. MSME sector is considered as the backbone of Indian economy, as it provides employment to 111 million people.He lauded the measures taken in regard to the MSME sector.

Hemendra K Sharma, Director, Ministry of external affairs, Chandrasekhar, Director General, MSME and other officials of MSME were present on the occasion.(Maxim News)