"Our Government changed the definition of MSMEs and this helped the sector", PM Modi said
Prime Minister Narendra Modi on Monday said that the Centre's Rs 3 crore package helped over 3.5 lakh MSME units, saving about 1.5 crore jobs.
Participating in the debate on the motion of thanks on the President's Address, Prime Minister told Lok Sabha, that in order to protect Micro Small and Medium Enterprises (MSMEs), the government has formulated a scheme worth Rs 3 lakh crore.
Citing SBI's data, the Prime Minister said, "Because of the government's Rs 3 lakh crore scheme for our MSMEs sector, more than 3.5 lakh MSMEs and 1.5 crore jobs have been saved."
"Our Government changed the definition of MSMEs and this helped the sector", he added.
Under the Centre's Aatmanirbhar Bharat campaign, PM Modi said that from manufacturing to service sector, India is now becoming part of the global value chain. "Our big focus is on MSMEs and textile - the labour intensive sectors," he added.
The Prime Minister also said that economy of India was the fastest-growing globally and the world has taken note of the country's economic strides that too in the middle of a once-in-a-lifetime pandemic.
Noting a rise in the exports of the country, the Prime Minister said that India has recorded highest exports in various sectors including krishi (agriculture), mobile, software and defence.
India is making its identity in defence exports as well, said Prime Minister Modi adding that it is because of the country's vision of Atmanirbhar Bharat.
"Total exports of India have touched record high figures even despite the pandemic," the Prime Minister said.