Govt envisions doubling MSME sector's contribution to India's economy: Minister

The government envisages doubling the contribution of India's micro, small and medium enterprises sector to the economy by realising its full potential, Union Minister Bhanu Pratap Singh Verma said on Wednesday.

The Micro, Small and Medium Enterprises (MSME) sector contributes one-third to India's gross domestic product (GDP).

The Minister of State for MSME said the Ministry is working towards this objective by resolving bottlenecks.

''Our vision is to double the contribution of MSME sector to India's economy by realising its full potential. We will resolve internal bottlenecks towards this objective,'' Verma said while addressing the Global MSME Summit here.

The Global MSME Summit is being organised by CII in partnership with the Ministry of Micro, Small and Medium Enterprises to promote the visibility of Indian MSMEs and encourage international market linkages.