Minister of Commerce & Industry Piyush Goyal on Friday said that the Indian Micro, Small and Medium Enterprise (MSME) sector deserves recognition for its contribution to the economy.

Speaking at All India Management Association’s (AIMA) 64th Foundation day & 14th National Management Day at New Delhi, Goyal said that MSME is a sector which truly deserves recognition, because some of them are doing truly wonderful work.

MSMEs are the largest creator of jobs, largest exporters & largest contributors to the ecosystemand Indiaas a nationcannot survive without them, he said.

“We should all ensure on becoming a nation builder and take our governance & good management practices to the remotest parts of the country”, Goyal added.

The minister said that USD 5 trillion economy is something that 1.3 billion people will be engaged in creating and it is an achievable goal in coming five years.

The comment came on the heels of former Prime Minister Manmohan Singh’s view on Wednesday that the Centre's hopes of turning India into a $5 trillion economy by 2024-25 as "wishful thinking".

India has a rich pool of management talent. Millions of people have devoted their life serving the nation, serving corporations, serving businesses and serving the Government, Goyal added.

He urged all to come together with collaboration and cooperation, for fulfilling the PM’s vision and mission for the $5 trillion economy in next five years, and truly making India a Superpower.

Goyal congratulated the award winners for their contribution in the field of Innovation in MSME, Public Services and special achievements at managerial positions. Shri Goyal emphasised on the importance of Innovation in the success of Enterprises.