'MSMEs transforming India's economic growth': PM Modi

NEW DELHI: Prime Minister Narendra Modi on Tuesday said that MSMEs are playing a transformative role in the economic growth of India.

During a virtual address at a post-Budget seminar on MSMEs, PM Modi also announced a new committee to review regulations in the non-financial sector.

"A decision has also been taken to constitute a committee to review regulations in the non-financial sector. We aim to make regulations modern, flexible, and people-friendly. The industry will play a crucial role in this exercise," he declared.

The country, PM Modi said, had been witnessing an unprecedented consistency in government policies for a decade.

He assured stakeholders associated with manufacturing and exports that the continuity will remain steadfast in the near future.

Further, PM Modi highlighted India's rising global economic stature.

"Today, every country wants to strengthen its economic partnership with India. Our manufacturing sector must step forward to maximize the benefits of this partnership," the prime minister said.

The PM also hailed his government's Production Linked Incentive scheme, saying it had an impact across 14 sectors.

"Under this scheme, more than 750 units have been approved, attracting an investment of over Rs 1.5 lakh crore, resulting in production worth over Rs 13 lakh crore and exports exceeding Rs 5 lakh crore. This demonstrates that if our entrepreneurs are given opportunities, they can excel in every sector," PM Modi said.

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