Small, medium enterprises’

Contribution to GDP may rise

 Press  Trust of India

New Delhi, March 11

The Finance Ministry said the micro, small and medium enterprise are expected to raise their contribution to gdp  to 10 per cent soon from the current level of eight per cent .

“ This sector plays an important part in India’s growth story from 3-4 per cent to 6 per cent and to 8-9 cent now… growth story has to move and will move to the higher level of about 10 per cent soon and that is what the country needs.” The. Finance Secretary, Mr. Ashok Chawal, said at the AIMA global convention on MSMEs here.

Stressing that the sector needs support, he said now is the time that the sector adopts best practice.  “ There is a need for technological up gradation, skill development and promotion of the products through marketing.”

The targeted delivery of credit should reach to the micro sector. Commercial banks should ensure easy availability of credit to the sector , he added.