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2011-02-01

MSMEs will continue to lead economy

Union Minister for Micro Small and Medium Enterprises, Virbhadra Singh Monday said that the Indian MSME sector will continue to play a crucial role for the nation's economy.

Union Minister for Micro Small and Medium Enterprises, Virbhadra Singh Monday said that the Indian MSME sector will continue to play a crucial role for the nation's economy.

Inaugurating the 26th India International Leather Fair (IILF) in Chennai, Singh said, "The MSME sector contributes 40 percent of the country's exports. It would continue to play a major role in the future also providing majority of the employment opportunity."

On leather exports, he pointed out that the industry is one of the engines of India's economic growth with 75 percent of the industry output contributed by the MSME sector.

He assured the leather exporters that the government would do what ever the industry requires for growth.

The IILF is organised by Indian Trade Promotion Organisation (ITPO) and Council for Leather Exports (CLE).


Speaking at the function, CLE Chairman Rafeeque Ahmed said the size of the Indian leather industry is estimated to be in the region of $7 billion of which nearly $3.5 billion comes from exports.

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