Micro, Small and Medium Enterprises contribute over 29 percent of GDP and over 49 percent of Indian exports, MSME Minister Nitin Gadkari said on Monday.

MSMEs contribute 29.7% of GDP and 49.66% of Indian exports, Gadkari said, adding that the government has taken various initiatives to enhance the competitiveness of MSMEs.

It has been done through schemes such as Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS), Micro and Small Enterprises – Cluster Development Programme, Procurement and Marketing Support and support for MSMEs to participate in international exhibitions / trade fairs, conferences / summits/ workshops etc., said the release.

Nitin Gadkari gave the information in written reply to a question in Rajya Sabha.