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Last updated: 28 Aug, 2017  

v.k.singh.jpg MSMEs actual power generators of economy: Minister

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SME Times News Bureau | 28 Aug, 2017
The growth of Micro, Small and Medium Enterprises (MSMEs) can play a big role in nation building by creating new job opportunities for the youth, Minister of State for External Affairs Gen. V.K. Singh (Retd) said in New Delhi.

Speaking at the fourth edition of the "India International MSME and Start-up Expo" on Saturday, Singh said actual power and sustenance of the economy of any country rested on the MSME sector.

"When we talk of the economy of a country, we look at big names, companies and industrial complexes. But actual power and sustenance of an economy of any country rest on the MSME sector itself," a statement quoted the minister as saying.

Singh added that the central government was giving "a great push" to start-ups which could help in creating new jobs and encourage youth to take up new challenges.

"The growth of MSME sector will also play a big role in nation building since 65 percent of the population is below 35 years and we all have to create new jobs for the youth."

"The growth of the sector will also revive our patriotic spirit and unify us to work towards the betterment of the nation," he said at the event organised by the MSME Development Forum in association with the Ministry of Railways and the Commerce and Industry Ministry.

DONER Minister Jitendra Singh added that it was the right time to invest in skills and become an entrepreneur.

"It has been a trend in our country to seek jobs instead of becoming entrepreneurs and creating jobs. But this is precisely the right time to invest in skills and become an entrepreneur," he said.
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SME no more worth
A suffering businessman | Wed Aug 30 06:26:53 2017
Unlike corporates who don't need to make profits but can be rich with stocks, MSME actually need to make profit.. Now with 30% corporate tax, 34% income tax, avg. 18% to 28% GST all the bribes and extras can't be put in accounts, how can any businessmen make any profits??? Without Profits, why should business work hard and take risk, better to be a clerk in a govt. office, rather than doing business in Modi's India.

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