Union Minister Pratap Chandra Sarangi believes that Micro, Small and Medium Enterprises would have an instrumental role to play in realising the centre’s dream of making India a USD five trillion economy. Minister of State of Home Affairs, G Kishan Reddy acknowledges MSME as the backbone of the Indian economy.
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MSME sector happens to be the second biggest contributor to the creation of jobs in India, it comes next to agriculture. Employment generation moved upwards post industrialisation progressed. The scenario happens to be very different from the past when India exported material against the import of finished goods thereby boosting the trade figures but failing to create employment within the country.