MSMEs to form up to 40% of India's GDP in 5 years: Nitin Gadkari

Union MSMEs Minister Nitin Gadkari has stated that the target of the government is to ensure that MSMEs make up 30-40% of India's GDP in the next five years. Gadkari was speaking at the 18th Edition of the Hindustan Times Leadership Summit 2020. At the summit, Gadkari promised to give more importance to the tribal, agricultural and rural sector.

Talking about the ongoing farmer protests against the Centre's new farm laws, Gadkari said, "Farmers will get more cost for their crops. All reforms are in the interest of the farmers. Some people are creating confusion in the mind of the farmers. Hope farmers will understand the truth and support our govt's policies."

Gadkari, also being the Union Minister for Road Transport and Highways, talked about the Centre's new Motor Vehicle Act. Gadkari explained, "I am confident that the new Motor Vehicle Act will give a new vision to the complete road safety programme through which we will reduce road accidents".

Gadkari claimed that accidents and deaths due to it have been reduced by almost 20 per cent. He also said that the government is developing a portal for providing real-time updates on black spots on highways in a bid to reduce road accidents.

Talking about the government's newly implemented FASTags procedure, he said that some people in NHAI are not accustomed to the new system, "To them I say, either retire or leave the job," said Gadkari. He added that the ministry aims to complete the FASTags procedure and make them mandatory in the next 2-3 months.

Speaking about the construction activities happening amid the COVID-19 pandemic, Gadkari said, "Ownership, transparency is very important. We are working for the nation. As per the time schedule is concerned, we need to implement the policy on time."

"Road construction creating employment potential. No impact of Covid-19 on road construction projects," he added.  

Gadkari also said that India's construction equipment manufacturing capacity has increased by nearly 80%.

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