Mangalore: The micro, small and medium enterprises (MSME) sector has contributed significantly towards the economic progress of the country, said Ajai Kumar, Chairman and Managing Director of Corporation Bank.

He was addressing a regional conclave titled “MSMEs: Building Capacities for Sustainable Growth” organized jointly by ASSOCHAM India and Kanara Chamber of Commerce and Industry (KCCI) Mangalore on November 29, Thursday.

Continuing, he said the MSME sector is also expected to contribute to a rise in GDP by 5 per cent in India in the near future. At the same time, he said the MSME sector should keep it updated to meet the challenges of changing times.

 J. Crasta, the co-chairman of ASSOCHAM Southern Regional Council, strongly felt that the government had been neglecting the MSME sector.