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MSME Minister urges Indian entrepreneurs to take advantage of closure of factories in China

06 Dec 2021 Evaluate

Union Minister of Micro, Small and Medium Enterprises (MSME) Narayan Rane has urged Indian entrepreneurs to take advantage of closure of factories in China. He said Indian industrialists should start manufacturing the products which are no longer produced in China. He noted that China is number one in the world in terms of production and it is leading with 64 per cent share in global manufacturing. However, many companies are shutting down in that country.

The minister said 'we should also take up marketing and export of these products. At present, India's manufacturing share is nearly 6 percent. If we add another 10 per cent, our GDP would increase significantly. This will help the country become a super power’. He also said the latest machinery should be used for manufacturing the products which are no longer made in China, so that India can capture global markets by maintaining quality.

Rane also emphasized the importance of having an ‘industrial environment’. He said a flourishing industrial environment brings stability to society by providing innovative solutions and also inspires the younger generation to think creatively and dares them to take the plunge. Hence, he said the emphasis on MSME growth and sustenance is a must.

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