Finance Minister Emphasizes Role of MSMEs in India's 2047 Vision

Union Finance Minister Nirmala Sitharaman underscores the critical role of micro, small, and medium enterprises (MSMEs) in transforming India into a developed nation by 2047. In a Udaipur event, she highlights budget priorities and announces dialogue programmes with MSME clusters, stressing on stakeholder engagement and direct loans from SIDBI.

Union Finance Minister Nirmala Sitharaman on Thursday stressed the importance of micro, small, and medium enterprises (MSMEs) in achieving India's vision of becoming a developed nation by 2047. She cited special budget allocations for these industries as a testament to their prioritized role.

Addressing MSME marble cluster units in Udaipur, Sitharaman emphasized that their participation is crucial to this vision. She announced the launch of dialogue programmes with 250 MSME clusters starting with Udaipur's Marble Cluster to understand and address their needs.

Sitharaman noted that the Small Industries Development Bank (SIDBI) is now offering direct loans to micro industries, ensuring easier access to funds. MSME Minister Jitan Ram Manjhi highlighted the sector's contribution to employment and economic growth. An MoU between SIDBI and the Udaipur Marble Association was also signed to foster the local marble industry.

(With inputs from agencies.)