At the unveiling of 100 Emerging Businesses of India, brought out by ABP Network, India’s Minister for Road Transport & Highways and Micro, Small and Medium Enterprises Nitin Gadkari shared his insights on the current state of the MSME sector, as well as small businesses’ crucial role in promoting equitable development and India’s economic growth.
In the past few decades, the Micro, Small and Medium Enterprises (MSME) sector has emerged as an extremely vibrant and dynamic sector of the Indian economy, contributing approximately 30 per cent to the nation’s GDP and accounting for almost 50 per cent of exports, Gadkari stated, adding this contribution in GDP should be increased to 40 per cent, which will only be possible if “we continue to strengthen, promote, and empower small businesses of India, every step of the way”.
While speaking at the event, the minister, a visionary with an eye on the future of India’s economic growth, also shared his thoughts on the ongoing political disturbance in Maharashtra, as well as rising cases of Coronavirus, emphasizing upon preventive measures to keep the virus at bay.
At the grand event, ABP Network unveiled its much-awaited ‘Emerging 100’ List, recognising 100 emerging businesses of India that are innovative, efficient, future-driven, and are adding to the country’s prosperity. The event also marked the unveiling of a special coffee table book that’s an extension of the recognition given to these 100 emerging businesses.
The 100 shortlisted businesses, recognised in this list, were selected on the basis of a set criteria of efficiency and governance. The final list was drawn up after going through thousands of entries.
ABP Network coceptualised this special initiative not to merely enumerate but to truly empower the best businesses of the country and enable them to contribute towards nation building on a wider level, a company statement said.
As a responsible and people-first network, ABP Network firmly believes that while big businesses may corner all the limelight, small and medium-sized businesses were the catalysts for economic development. In fact, according to a report by one of the chambers of commerce FICCI, the MSME sector has been creating roughly 11.10 crore (111 million) jobs across the country and is known as India’s ‘engine of growth’.
At the event, Avinash Pandey, CEO, ABP Network, said, “My heartiest congratulations to all the 100 shortlisted businesses for the exceptional work done. Your dedicated efforts towards nation building truly deserve today’s acknowledgement.”
Dwelling further, Pandey said ‘The Emerging 100’ initiative was designed to recognise and empower the most innovative, efficient, and future-driven businesses of India and give more power to the growing MSME sector.
“Despite stellar and unswerving contribution, these companies, which exist as the ‘backbone of India’s economy’, have not been celebrated and feted enough. We hope our efforts will help lead an entrepreneurial revolution and help Indian businesses spread its wings on the world stage,” he added.