Nitin Gadkari: Govt to make special policies for import-substitute MSME products
Terming employment generation as one of his priorities, MSME Minister Nitin Gadkari on Thursday said that the MSME sector offers huge potential and the government is ready to come out with special policies to promote import-substitute products.
Addressing the India-Singapore symposium, organised by CII in New Delhi, Gadkari said, "One of the most important things is that we have to raise the employment potential and it is my priority, both in rural and urban areas.”
"There are a lot of products in MSMEs. My suggestion is to identify import-substitute products and then, we can make special policies. This will reduce imports," he said.
The road, transport, highways and MSME minister also urged investors from Singapore to tap huge opportunities that India offers and said 22 green expressways will see investments of about Rs 10 lakh crore.
He also said Dwarka Expressway, which is to be built at Rs 10,000 crore, will be expedited. The minister said 250 road-side facilities and 250 petrol pumps are planned besides logistics parks and smart cities, among others, which offer huge investment opportunities.
Gadkari also recently said that the ban on entry of corporates and private players in the MSME sector has been lifted to pave way for the formation of 700 clusters in order to reduce dependence on imports as well as for job creation.
He also urged Indian industry to join hands in bringing innovative ways of financing, adding that there was no "trust deficit" between industry and the government, which has been constantly doing away with "red-tapism".
He made these statements a few weeks after taking charge of the MSME Ministry and promising to work with full strength to increase job opportunities in the sector.
Speaking on his new responsibility of the MSME Ministry, Gadkari had said that the portfolio is associated with the most important issue - the country's growth rate and employment potential. He added that Prime Minister Narendra Modi expected employment to increase from this sector.