Namrata Kath Hazarika | 24 Feb, 2012
The Ministry of MSME has targeted 15 percent annual growth for the sector in the 12th Five Year Plan.
"The MSME sector has to grow at something 15 percent annually, which would be our target. We have also suggested this to the plan panel as our growth target," said MSME Secretary, R. K. Mathur during a FICCI event in New Delhi on Thursday.
Moreover, Mathur requested the industry stalwarts to give suggestions to the ministry on the modalities that can be worked out and included in the 12th Five Year Plan document.
"We have a strategy in provision. We have looked for funding. We do not know how much funding would come but we will see how best to optimize the money that the ministry gets," he added.
Also, he said that the Ministry of MSME would focus on six issues that includes credit, infrastructure, skill development, marketing, exports, and organizational innovation.
The MSMEs provide employment to about 60 million persons through 26 million enterprises. This sector contributes 8 percent to the country’s GDP, 45 percent to the manufactured output and 40 percent to the exports in the country.
