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Nitin Gadkari: Govt likely to make special policies for import-substitute products in MSME

As per reports, Union Minister for MSMEs, Nitin Gadkari said at the India-Singapore symposium, organised by CII that, employment generation is one of his priorities. He also mentioned that the MSME sector offers huge potential and the government is ready to come out with special policies to promote import-substitute products.

The MSME minister who is also the road, transport, highways minister urged investors from Singapore to tap huge opportunities that India offers and said that 22 green expressways will see investments of about ¿ 10 lakh crore at the India-Singapore symposium, organised by CII.

While addressing the India-Singapore symposium, Gadkari said, "One of the most important things is that we have to raise the employment potential and it is my priority" both in rural and urban area.

The minister further said that micro, small and medium enterprises (MSMEs) have huge employment potential and the government is especially looking to promote products that could be import-substitute.

He quoted, "there are a lot of products in MSME, my suggestion is to identify import-substitute products and then, we can make special policies which will reduce imports."

Urging investors from Singapore to come forward for investment here, the minister said, "The government is building 22 green expressways which will have investments of Rs 10 lakh crore. The Dwarka Expressway, which is to be built at Rs 10,000 crore, will be expedited. The minister added, 250 road side facilities and 250 petrol pumps are planned besides logistics parks and smart cities, among others, which offer huge investment opportunities.”