MSMEs likely to create five crore new jobs in next five years: Gadkari

By: |
December 16, 2020 4:20 AM

The minister said he envisions the MSME sector to contribute 40% to the country’s gross domestic product (GDP) from around 30%; at the same time, the sector’s contribution to the country’s export to go up to 60% from 48% now.

In a recent report, ICICI Securities said cement’s industry average operating margin grew 25% Y-o-Y in FY’20 and further rose 20% Y-o-Y to over Rs 1,250/tonne in the first half of the current fiscal.In a recent report, ICICI Securities said cement’s industry average operating margin grew 25% Y-o-Y in FY’20 and further rose 20% Y-o-Y to over Rs 1,250/tonne in the first half of the current fiscal.

Micro, small and medium enterprises (MSMEs) are likely to create five crore new jobs in the next five years, minister for MSMEs Nitin Gadkari said on Tuesday.

“Until now, we (MSMEs) have created 11 crore jobs and we are now planning to create five crore new jobs in the next five years,” Gadkari said at a CII event.

The minister said he envisions the MSME sector to contribute 40% to the country’s gross domestic product (GDP) from around 30%; at the same time, the sector’s contribution to the country’s export to go up to 60% from 48% now.

Gadkari said while the Covid-19 pandemic has adversely affected the sector, government extended support to the sector with various policy changes that should enhance their risk-taking abilities, leading to increase in investment.
Gadkari, who is also the minister for road transport and highways, said the government was targeting Rs 25 lakh crore investment in the road development sector, but he did not give any timeline.

He said toll income on the national highways, despite disruptions, might go up to Rs 34,000 crore in the current fiscal from Rs 24,000 crore in the last fiscal. Toll income might go up to Rs 1 lakh crore a year in five years.

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