Foreign investments

MSME News: Gadkari calls for attracting more foreign investment to MSME sector

NEW DELHI: Union Minister Nitin Gadkari on Thursday highlighted the need to attract more foreign investment into the MSME sector as these entities offer excellent viability and income to investors.

Speaking at a virtual international conference organized by the umbrella body of chartered accountants ICAI, the minister also urged chartered accountants to suggest ways and an innovative approach to attract maximum foreign investment in the micro sector. , small and medium-sized enterprises (MSMEs).

Indian MSMEs offer excellent viability and income to investors. It is also time for the country to attract foreign investment in the sector and this is where the role of accountants is very important, he said.

Gadkari, who is the minister of road transport and highways, noted that chartered accountants can help speed up the country’s economy as they understand the issues and can guide on ways to increase exports and reduce imports.

He was also Minister of MSMEs. The theme of the three-day conference is “Accountants Create a Digital and Sustainable Economy”. More than 3,000 professionals from around the world are expected to attend the conference.

The President of the Institute of Chartered Accountants of India (ICAI), Nihar N Jambusaria, said that the profession of accountant adds value to the process of economic and social development.

“ICAI has taken various initiatives in recent times for sustained economic growth that will serve not only members but also wider stakeholders,” he added.