Modi addressing GDP-job disconnect by boosting SMEs: Jaishankar

Bengaluru: External Affairs Minister S Jaishankar on Friday said the central government under Prime Minister Narendra Modi’s leadership is making efforts to address the disconnect between GDP growth and employment increase by giving a boost to the SME sector.
“It is interesting to look at the last 25 years, our GDP growth rates are not matched by our employment increases. What has happened is that businesses have bloomed in India without supplying chains growing commensurately, which is a polite way of telling you that we did not look after our SMEs the way we should have,” he said addressing a business community at an event here.
The SMEs were neglected because the Indian businesses found it easier to be more profitable by outsourcing than building the product in India, Jaishankar reasoned.
“The Modi government fully supports employment creators and promotes exports. AtmaNirbhar Bharat is an article of faith. It will make a difference to global resilience and de-risking,” he tweeted.
Jaishankar said AtmaNirbhar Bharat will make a difference to global resilience and de-risking.
He said AtmaNirbhar Bharat will work positively to ensure a bounce back from the current global financial risks. (UNI)