Government plans to create 5 crore employment opportunities in MSME sector

The Union Minister of Micro, Small & Medium Enterprises, Nitin Gadkari on November 30, 2020, addressed the first-ever 2020 Horasis Asia Meeting virtually and stated that the central government has been planning on creating 5 crores more employment opportunities for MSME sectors only.

In his address, he also noted that in the coming years India will be the top automobile manufacturing hub in the world and as compared to China, India has got huge potential. He added that the availability of raw material, young talented manpower, and favourable policy of centre and state governments have been making India a favorite destination to invest in.

The objective of the meet:

The 400 of the foremost political leaders and business from Asia and the world gathered during the 2020 Horasis Asia Meeting in order to discuss the ways to overcome the profound political, economic and social disruption that has been caused by the COVID-19 pandemic all over the world.

Addressing Horasis Asia Meet https://t.co/BXiFRMaOQV

— Nitin Gadkari (@nitin_gadkari) November 30, 2020

Increase in MSME contribution to economic growth:

While laying out the central government’s plan for the MSME sector during the 2020 Horasis Asia Meeting, the union minister informed that the Indian government’s purpose is to take the MSME contribution to the economic growth from 30% to 40%. It also aims at increasing the MSME export from 48% to 60%.

Horasis Asia Meeting 2020:

Chairman of Horasis, Frank-Jurgen Ritcher informed that the virtual meet was a great success. It was attended by 400 speakers including Ministers from Vietnam, India, Philippines, Thailand, Indonesia, Hong Kong as well as many leading captains of the industry worldwide.

He added that the participants during the meet agreed to cooperate in the spirit of public-private partnership and true multilateralism. Asia has been making impressive progress in containing the pandemic and at the same time, it has also been using pandemic as a means for the transformation for making their economies more sustainable and resilient.