Govt. working on policy to push MSME exports: Nitin Gadkari

The Government is working on two policies to increase micro, small and medium enterprise (MSME) exports and bring down imports by encouraging local production, Union MSME and Road Transport Minister Nitin Gadkari said recently.

While addressing a gathering during the Small Micro Enterprise (SME) conference at Nagpur, Mr. Gadkari said the MSME sector contributes 29% to the country’s growth and 48% of exports are done through MSMEs. Similarly, around 10 to 11 crore jobs have been created in MSMEs.

“The Government is working on two policies. Firstly, in terms of how to support and increase exports in industries which are into the export business,” the Minister said.

The leather industry has a total turnover of Rs. 1,40,000 crore, of which Rs. 80,000 crore to Rs. 90,000 crore is domestic and Rs. 45,000 to Rs. 50,000 crore is from export.

He further said the Government is also working on a policy to increase indigenous production of products that are being imported.

“Products that are being imported should be manufactured in the Country itself. We are in talks with the Commerce Ministry on these two policies and it is in the final stages,” Mr. Gadkari said.

Mr. Gadkari emphasised on three important factors — reducing capital cost, power cost and logistic cost — to become competitive in the international market, which have also been discussed while making the new policy, he said.

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