India asked Japan to increase cooperation in micro, small and medium enterprises sector to increase economic engagement between the two countries.
India asked Japan to increase cooperation in micro, small and medium enterprises (MSME) sector to increase economic engagement between the two countries.
"Inflow of Japanese MSME sector is very much needed to boost Indo-Japan relationship and the Japanese co-operation in the MSME sector in the technology transfer, investment, partnership and fully established areas can come up," EMS Natchiappan, Minister of State for Commerce and Industry said at the recently held Assocham's India-Japan Business Conclave.
The MSME sector contributes 8 per cent to India's Gross Domestic Product (GDP) and 45 per cent to manufactured output. The sector provides employment to over 8 crore people engaged in over 3.6 crore units, producing more than 6,000 products.
The minister assured the investors that the government would help them resolve their issues.
"If you look at the Land Acquisition, Rehabilitation and Resettlement Act, the first appearance may be very troublesome but is in no way a barrier in industrial development," he added further.
He asked the industry to engage with local people for land acquisition processes.
"If you want to establish an industry, then you don't have to feel shy in discussing with people who've been possessing land for generations. These people should be made party to the development of the industry as it will go a long way and save time from litigation," the minister said.