"MSME contributes 31% to India's GDP": Said by Jitan Ram Manjhi on GST reforms

Union Minister Jitan Ram Manjhi stated that Micro, Small, and Medium Enterprises (MSMEs) contribute 31% to India’s GDP, 35% to manufacturing, and 46% to exports, highlighting their critical role in the economy. He described recent GST reforms as "historic," noting the simplification of GST into two slabs—5% and 18%—with luxury and intoxicating products taxed at 40% to discourage excessive consumption. BULLMER Trendy Clothing Set with Shirt & Pants Co-ords for Men

Additionally, GST on health and insurance has been reduced to 0% from 18%, providing significant relief to citizens. These reforms aim to support small traders, MSMEs, and the common man while strengthening India’s economic resilience against global trade challenges.

Regarding Karnataka’s role in FDI attraction, as mentioned in your previous query, the state’s strong MSME ecosystem, particularly in technology and manufacturing hubs like Bengaluru, contributes significantly to its FDI inflows. Also Read: MUDA Case: Karnataka High Court Postpones Hearing on CM Siddaramaiah’s Petition for the 7th Consecutive Time

Micro, Small, and Medium Enterprises (MSMEs) in India
MSMEs are a vital pillar of India’s economy, contributing significantly to GDP, employment, and exports. Below is a concise overview in Kannada, followed by key details in English, aligning with the context of your query about Union Minister Jitan Ram Manjhi’s statement and Karnataka’s economic role.