MSMEs mainstay of economy, can make India self-reliant: LS Speaker Birla

Lok Sabha Speaker Om Birla on Friday said the campaign to make India self-reliant can be achieved only through the micro, small and medium enterprises (MSMEs) as they are the mainstay of the economy.

Stating that India has long been one of the fastest growing economies of the world, Birla said the present government has implemented many reforms in trade and business sectors, which has raised the inflow of foreign investments.

The Atmanirbhar Bharat campaign will be achieved only through MSMEs and the nation will be empowered. MSMEs are the mainstay of the economy, Birla said while speaking at the Annual Session of PHD Chamber of Commerce and Industry.

He further said local supply chains should be strengthened for Make in India, which can reduce India's dependence on foreign countries.

India has made progress in every field like agriculture, industry and services and the country is rapidly moving towards becoming self-reliant, Birla said.

The manufacturing and exports in sectors like pharma, technology, cyberspace, defence, space and education are increasing in the country.