Nitin Gadkari vows to increase turnover of village industry from Rs 80,000 cr to Rs 5 lakh cr

Union Minister for MSME Nitin Gadkari on Wednesday vowed to increase the turnover of village industry from Rs 80,000 crores to Rs 5 lakh crores in two years.

Addressing the Confederation of Indian Industry (CII) Global MSME Business Summit, the Union Minister 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."

While speaking on the theme, "Reboot to rebound: Stimulating demand and supply side," Gadkari said that the Central government's target is to create five crore more jobs in the next five years. "Presently, the MSME sector employs 11 crore people. Our target is to create 5 crore more jobs in the next 5 years."

Further speaking during the event, the Union Minister Gadkari said, "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."

Last month, Gadkari at Virtual Horasis Asia Meeting had said that Centre is planning to take the MSME contribution to the economic growth from 30 per cent to 40 per cent.

"Our target is to take 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," he added.

(ANI)

Also Read: PM Modi to lay foundation stone of new Parliament building today