More MSMEs must get listed to fund growth, says Nitin Gadkari

MUMBAI: Union Minister for Road Transport and Highways Nitin Gadkari on Friday said that more micro, medium and small enterprises (MSMEs) should get listed on the exchanges to fund growth and reduce the burden on the lending sector.Such a move would allow the companies to get funds to expand their business globally, bringing in more revenue for the country, while investors will get good returns on their investment, he said while speaking at the second foundation day of JITO Incubation and Innovation Foundation (JIIF).

The government aims to increase MSME sector’s contribution to the GDP to 50% in the next five years and increase its exports exponentially, he said. To achieve these targets, the cost of capital, logistics and power must be brought down for the MSMEs, making them globally competitive.

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