Separate ministry to be established for small and medium enterprises

Mumbai: "The government attaches great importance to skill development and hence a separate ministry is being established for this purpose," Mishra said later while giving away awards to top 100 small and medium enterprises (SMEs). Mishra said MSME, though conveys smallness of size, its contribution to the economy and empowerment of people is very large.

"Micro, small and medium enterprises contribute nearly 8 per cent to the country's GDP, 45 per cent of manufacturing output and 40 per cent of the exports. They provide the largest share of employment after agriculture," Mishra said. In her address, Mahajan stressed on the "quality consciousness" and asked the Indian entrepreneurs to produce best quality products. Terming small and medium enterprises as the "engines of economic growth", she said, "Brand India should be known by its quality."