Thaindian News

New Delhi, Aug 28 (ANI): Prime Minister Manmohan Singh on Friday called on the youths of the country to inculcate technical skills for increasing their contribution in the industrialization.

Speaking after presenting the National awards to Micro Small and Medium Enterprises, (MSME) here, Singh commended the contribution of MSME in the growth of Indian economy.

Singh asserted that the Union Government is committed to double the flow of credit to MSME, in next five years, which is expected to contribute to modernisation of these enterprises and augment productivity.

Singh urged the banking sector to ensure higher flow of funds to MSME and suggested to explore new and emerging sources of finance like venture capital and private equity to aid this sector.

MSME contributes 40 per cent to India’s exports and provide employment opportunity to nearly 60 million people.

” The effort of the government is to enable entrepreneurs to get one stop access to all facilities, including capacity building, skill development, credit, marketing support and quality technology,” Singh said.

Singh added, …”five hundred clusters have been already identified for this scheme where specific intervention is being carried out.”

He urged the State Governments to work towards the success of reforms in the Khadi industries sector, which is being launched with the assistance of Asian Development Bank.

Singh assured to set up a task force to look into the problems of MSME entrepreneurs.

” The national manufacturing competitiveness programme will be implemented with the cooperation of industrial associations to improve the competitiveness of this sector in the global market,” Singh said. (ANI)