Dr Bhagwat Karad: MSME contributes 30 percent GDP
Chhatrapati Sambhajinagar: We are in talks with the Maruti delegation that are looking for investment. The delegation will be briefed about the city’s industrial potential next week, said Dr Bhagwat Karad, union minister of state for finance while speaking at the 4th edition of the CEO conclave organised by the Chamber of Marathwada Industries and Agriculture (CMIA) on Friday.
Speaking further, Dr Karad said that such conferences are organised in the city that help build confidence in the entrepreneurs. The government is presently working on a two point plan. The first is to create a robust financial network and second is the Eco-system based approach to growth. The development is being done keeping in mind the development for the next 25 years. India at present has 1 lakh startups and more than 107 are unicorns. We rank 3rd in the country for startups. Exports have increased under the production linked incentive scheme. A solar roof top project has been planned on the Jayakwadi dam that cost around Rs 10,000 crore. He appreciated CMIA for taking the initiative in making progress in Marathwada. He said that these efforts are meeting with success and in the last year they have managed to bring in big investments like Ather, Cosmo Films, and Piramal.
Ventilators manufactured for Rs 3 lakh
Dr Karad said that inclusion of the medical sector in the PLI scheme has reduced the cost of medical equipment in the country and has also reduced the dependency of the country on other countries. A ventilator that used to be imported from other countries and cost Rs 12 lakh, is now manufactured in India and only costs around Rs 3 lakh.
MSME contributes 30 percent GDP
The MSME sector is one of the strongest contributors to the Indian GDP. At present, MSMEs contribute 30 percent to the total GDP of the country. A recent report showcased that exports from this sector has grown rapidly and products worth lakhs of crores are exported to around 18 countries.