MSMEs have to be encouraged to increase GDP: TN governor

Coimbatore, Oct 29 (PTI) Micro and small and medium enterprises (MSMEs) would have to be encouraged to achieve the goal of the national manufacturing policy to increase the gross domestic product (GDP

Coimbatore, Oct 29 (PTI) Micro and small and medium enterprises (MSMEs) would have to be encouraged to achieve the goal of the national manufacturing policy to increase the gross domestic product (GDP) rate from 16 per cent to 25 per cent by end of year 2022, Tamil Nadu governor Banwarilal Purohit said Monday.

The governor said this while inaugurating the golden jubilee celebrations of Coimbatore district small industries association (CODISSIA).

He said the MSMEs play a vital role in the economic growth and development of a country, besides creating employment and increasing the GDP.

The governor said the MSMEs produce over 6,000 products and contribute about 45 per cent to manufacturing and about 40 per cent to exports.

He said Tamil Nadu was estimated to have 11.10 lakh registered small-scale industries which constitute 12 per cent of the total number of MSMEs in the country.

Earlier, the governor, releasing a book ‘Sculptors of Indian Independence’ authored by an advocate from the city, said, “It was possible to make the country great in one’s lifetime with commitment to a cause, adherence to discipline and training to attain ones potential and have the feeling that we all are Indians without distinctions of caste creed, language or religion.”

This is published unedited from the PTI feed.