New Delhi, Mar 4 (UNI) Prime Minister Narendra Modi on Tuesday said the MSMEs are playing a transformative role in the economic growth of our country.
He said the government is working with a vision of a self-reliant India.
Addressing a webinar on MSMEs as an “Engine of Growth, Manufacturing, Exports, and Nuclear Energy”, Modi said Today the number of MSMEs in the country has increased to more than 6 crores and it has provided employment opportunities to crores of people.
The PM said “In the budget, the definition of MSMEs has been expanded again, so that our MSMEs get the confidence to keep moving forward. This will create more employment opportunities for the youth” he added.
Modi noted that today, 14 sectors are benefiting from the PLI scheme, with over 750 units approved. This has attracted investments of more than Rs 1.5 lakh crore, generated production worth over Rs 13 lakh crore, and led to exports exceeding Rs 5 lakh crore”.
The Prime Minister said the government is working with the vision of a self-reliant India and has accelerated the pace of reforms.
He mentioned that the country has consistently demonstrated its commitment to reforms, financial discipline, transparency, and inclusive growth over the past 10 years.
Modi further noted that We need to innovate new modes for credit delivery, ensuring MSMEs have access to low-cost and timely credit…adding that 5 lakh first-time women, SC, and ST entrepreneurs will be provided loans of up to Rs 2 crore”.
The Prime Minister said that the government’s efforts have reduced the impact of COVID on the economy, which has helped India become a fast-growing economy.
He said today every country in the world wants to strengthen its economic partnership with India and called upon the Indian manufacturers to come forward to take maximum benefit of this partnership.
