Prime Minister, Narendra Modi envisions to expand our companies universally. In return, this will bring in more revenue for our country. To accomplish this, Micro, Small, and Medium Enterprises (MSMEs) must enroll themselves on the National Stock Exchange. The Union Minister, Nitin Gadkari suggested that this matriculation would fund growth and decrease burden on the lending sectors. Therefore, reducing debt burden of MSMEs.
Nitin Gadkari’s Thoughts on Intended Future
During an event, Gadkari stated the necessities and significance of emerging entrepreneurship. He emphasized the relevance of participating in research-oriented and innovative fields to find solutions to India’s social and economic problems.
Furthermore, he urged Post doctorates and entrepreneurs to actively part-take in the government’s “waste to wealth” mission. Also, outlined several steps the ministry had undertaken to improve the agricultural and industrial sector. In addition, Gadkari vaguely discussed the scheme to convert Delhi into a pollution-free zone.
A Vision to Increase Fund Growth and Reduce Debt Burden
To achieve this, the government aims to aid MSMEs by reducing the capital of costs, logistics and power. Hence, by providing a sustainable and encouraging atmosphere the administration’s objective is to increase MSME’s contribution to the nation’s GDP over 50% during the following five years.
MSME’s with strong financials are advised to get registered at the National Stock Exchange. Further speculations that ministry will provide 10,000 crores as funds to MSMEs in buying the equity capital. The shares would gradually increase their chances of owning a lot more than just a small portion of a whole.
Thereby, creating an array of wealth creators, revenue generators and entrepreneurs that offer employment, our country will embark upon the journey to become a five trillion dollar economy.