Nitin Gadkari: Will increase the turnover of village industry in 2 years to Rs 5 lakh crore

Union Minister for MSME, Nitin Gadkari on Wednesday has assured that the village industry will have an increase in turnover from Rs 80,000 crores to Rs 5 lakh crores in a time period of two years.

While addressing at the Confederation of Indian Industry (CII) Global MSME Business summit, Nitin Gadkari said, “Presently, the turnover of our village industry is Rs 80,000 crores. My mission is to make it Rs 5 lakh crores in 2 years.”

Highlighting the theme “Reboot to Rebound: Stimulating demand and supply side”, the Union Minister said the Centre’s objective is to build 5 crores more job opportunities in the upcoming five years. “Presently, the MSME sector employs 11 crore people. Our target is to create 5 crores more jobs in the next five years.”

Gadkari further added, “For making Atmanirbhar Bharat, the most important target for the ministries is to make Indian economy strong and for that reason, we need to increase more export at the same time we need to decrease the import.”

Earlier, in November, at Virtual Horasis Asia Meeting, Gadkari revealed that Centre is working on elevating the MSME contribution economic growth from 30 per cent to 40 per cent. He said, “Our target is to make the MSME contribution to the economic growth from 30 per cent to 40 per cent and also increase the MSME export from 48 per cent to 60 per cent. The government is also planning to create 5 crore more jobs from MSME sectors only.”

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