Nagpur (Maharashtra) [India], July 27 (ANI): Union Minister Nitin Gadkari on Monday said about forty-eight cent of the country's export was related to MSME sector.
Gadkari, who is Minister of Road Transport and Highways, Micro, Small & Medium Enterprises, said MSMEs contribute 30 per cent to country's GDP growth.
"Forty-eight cent of our export is related to MSMEs and up till now we have created 11 crore jobs," Gadkari said addressing a webinar on Aatmanirbhar Bharat and MSMEs via video conferencing.
He said the role of refrigeration and air conditioning industry is very important.
He said that apart from its use in houses, cinema halls and malls or in the health sector, air conditioning and refrigeration has immense use in agriculture such as pre-cooling plants and cold storage.
"We have a huge capacity for production but we don't have storage capacity. That is a weakness of our agro-economy. So there is huge potential for re-cooling plants and cold storage industry," he said.
The minister said that some industries were using solar energy and reducing the power cost is also important.
He said the government has announced a special economic package of Rs 20 lakh crore out of which Rs 3.70 lakh crore is related to MSME sector.
He said MSMEs which have a good track record of exports, income tax, they will be given ratings.
The minister said MSMEs will also be empowered so that they can go to capital market and raise the capital from the stock exchange.
He expressed confidence of winning the battle against coronavirus. He said once a vaccine is found, the problem will be resolved.
"We need to understand the art of living with COVID-19. We need your co-operation," he said.
The minister said the economy is facing problems including banking sector which is under stress. (ANI)