50 Mn jobs to be created through MSMEs: Gadkari

New Delhi, Dec 7 (KNN) Union Minister for Micro, Small and Medium Enterprises (MSMEs) Nitin Gadkari has said that the government is planning to create 5 crore more employment opportunities from Micro, Small and Medium Enterprises (MSME) sectors only.

Addressing the first-ever Virtual 2020 Horasis Asia meeting on Monday,Gadkari said: "The government is planning to create 5 crore more employment opportunity from MSME sectors only. In the coming years, India will become the top automobile manufacturing hub in the world."

"As compared with China, India has got huge potential. The availability of young talented manpower, raw material and favorable Policy of Centre and State governments is making India a favorite destination for investors to invest in India," he added

The Union Minister said that the government's 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.

"Participants agreed to join hands and to cooperate - in the spirit of true multilateralism and public-private partnership. Asia as a region is making impressive progress in containing COVID-19, and at the same time is using the pandemic as a means for transformation - to make their respective economies more resilient and sustainable," said Frank-Jurgen Richter, Chairman of Horasis.