Union minister Nitin Gadkari on Thursday emphasised the need for attracting more foreign investments into the MSME sector as such entities are giving excellent viability and income to investors. Speaking at a virtual international conference organised by the chartered accountants’ apex body ICAI, the minister also urged chartered accountants to suggest ways and innovative approach to attract maximum foreign investment into the Micro, Small and Medium Enterprises (MSME) sector. The Indian MSMEs are giving excellent viability and income to the investors. It is also time for the country to attract foreign investment into the sector and this is where the role of chartered accountants is very important, he said.
Gadkari, who is the Minister of Road Transport and Highways, noted that chartered accountants can help in accelerating the country’s economy as they understand the problems and can guide on ways to increase exports and reduce imports. He has also served as the MSME minister. The theme of the three-day conference is ‘Accountants Creating a Digital and Sustainable Economy’. More than 3,000 professionals from across the globe are expected to participate in the conference.
Institute of Chartered Accountants of India (ICAI) President Nihar N Jambusaria said the chartered accountant profession is adding value to the process of economic and social development. “ICAI has taken various initiatives in recent times for the sustained economic growth that will serve not only the members but also the stakeholders at large,” he added.