Nitin Gadkari urged MSMEs to register themselves with the National Stock Exchange, which would help them gain easy access to capital.
Union Minister of Road Transport and Highways and Ministry of Micro, Small and Medium Enterprises Nitin Gadkari on Monday urged industry to take advantage of the various policies of the Central government and invest in the agro processing and infrastructure to achieve India’s aim of becoming a $5 trillion economy.
Addressing the 114tha Annual Session of PHD Chamber of Commerce and Industry here today, Mr Gadkari said that the MSME sector is the heart of the Indian economy and contributes 29 per cent to India’s GDP. He urged MSMEs to register themselves with the National Stock Exchange, which would help them gain easy access to capital.
He outlined several steps his ministry had taken to improve agriculture and infrastructure and encourage the MSME sector. He urged PHD Chamber and entrepreneurs to come forward and actively contribute to the government’s “Waste to Wealth” mission as a significant step towards economic growth and development. Mr Gadkari also spoke about the various steps he had taken to improve Delhi’s air and water. “We are spending Rs 50,000 crores on building roads in Delhi alone. We plan to make Delhi pollution-free in two years. The Mumbai- Delhi highway which we are developing is a great opportunity for entrepreneurs to invest in the land alongside the highway.”
President PHD Chamber, Rajeev Talwar, in his welcome remarks observed that the success of India will depend on the manufacturing sector. “We need significantly large investments, transparent governance and massive innovations to build a rising and Shining India.” He appreciated the steps taken by the Central government to encourage entrepreneurs including lowering of corporate tax and streamlining of GST, among others. He expressed the hope that the industry will take advantage of the opportunities and work with the government towards making India a global economic power.
Dr. D.K. Aggarwal, Senior Vice President, PHD Chamber, thanked Mr Gadkari for outlining a progressive path for India and for presenting the PHD Annual Awards for Excellence 2019.