Indian micro, small and medium enterprises (MSMEs) should take more steps to enhance employment and boost production so as to help achieve further progress in making the country ‘Aatmanirbhar’, Union MSME Minister Narayan Rane said on Wednesday. 

Lauding MSMEs for their contribution towards the country’s ‘Aatmanirbhar’ journey, Rane noted that MSMEs already contribute significantly to the Indian economy in terms of gross domestic product (GDP), exports and employment generation. 

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The share of MSME-related products in total exports is about 50 per cent and MSMEs accounted for 30 per cent of India’s GDP. Rane urged MSMEs to strive harder to improve this share in the days to come and help India progress in its ‘Aatmanirbhar’ journey. 

 He was speaking at an MSME awards event organised by Axis Bank and India SME Forum.

Maharashtra leads

Amitabh Chaudhry, MD and CEO, Axis Bank, said, “One of Axis Bank’s core philosophies has been to address the financial requirements and ensure long-term sustainable growth for ‘all’ customer segments. While it has been our constant endeavour to undertake measures to boost MSMEs and entrepreneurship, this association with Indian SME Forum is to help SMEs network and promote themselves to their partners, investors and collaborators, raise capital and gain a global footprint.”

Awards were presented to 55 small, 28 medium and 17 micro segment companies from 14 States and 2 UTs, spanning various sectors such as agriculture, chemicals, energy, pharmaceuticals, logistics, and more. Maharashtra received the highest number of awards, followed by Gujarat and Karnataka.