Union Minister for Micro Small and Medium Enterprises (MSME) Nitin Gadkari, on Thursday said the government is committed to raise the contribution of the MSME sector to GDP to 50 percent.
PUNE: Union Minister of Commerce and Industry & Railways, Piyush Goyal, reviewed the draft National Logistics Policy and the proposed action plan for implementation of the policy prepared by the Department of Logistics, Ministry of Commerce and Industry.
Industry body Ficci Thursday urged the Finance Ministry to have a re-look at Goods and Service Tax (GST) regime for consulting and service sector.
MSMEs are the growth engine fuelling the Indian economy. As per an industry survey, it was estimated that MSME firms created up to 14.9 million new jobs per annum over the past four years.
The mission of Khadi & Village Industries Commission (KVIC) has been to promote Khadi as a global fabric as well as help it generate employment all across the country.
The government has decided to continue to consolidate gains of the MSME Outreach Campaign by do an in-depth analysis of the progress made and issues in availability of credit, still being faced by the sector, said an official release on Thursday.