Speaking at a virtual event organised by Dun & Bradstreet, ‘Business Enterprises of Tomorrow 2020′ with the central theme of Atmanirbhar Bharat, the Nitin Gadkari stated that Western countries are keenly interested to deal with India and not China. “In this situation, it is advantageous for the Indian economy and the Indian manufacturing sector to create more exports for the country. We are on track and have already reduced imports from China while our export is increasing. The IITs, engineering colleges and research centres are doing a lot of innovation and we will fulfill requirements of the whole world,” he asserted.
Emphasising the need to reduce imports and increase exports to achieve the mission of ‘Atmanirbhar Bharat,’ Union Minister for Micro, Small and Medium Enterprises, Nitin Gadkari on Monday said that India does not need to import from China. “In the auto sector and many items such as agarbattis, we have found solutions. We don’t need to import from China. In a lot of items, in place of imports, we are making exports. Our strength is the young talented manpower which is available in the country,” he said.
Lauding the efforts of the government to support MSMEs, he added that the change in definition for MSMEs had been a revolutionary step in the history of the sector. The ministry of MSME, he said, is working to set up a number of centres of excellence with IITs and NIITs. “The emerging areas in which MSMEs can work are sustainability, green manufacturing, remanufacturing, development of smart villages, e-mobility, robotics and virtual reality,” he revealed.
While the SME segment of the publication features businesses with annual standalone turnover between Rs 5 crore and Rs 250 crore during FY19, the mid-corporate segment narrows down on businesses between Rs 250 crore and Rs 1,000 crore annual standalone turnover for the same period.