New Delhi, May 24 (PTI) Domestic micro, small and medium enterprises will have to embrace technology and focus on value addition to enhance their global competitiveness, Pratap Chandra Sarangi, Minister of State for MSME said on Monday.

For the MSMEs (Micro, Small & Medium Enterprises) sector to thrive in the international market there is a need to focus on three important factors — reducing capital cost, power cost, and logistic cost, he said.

The minister was speaking at a webinar of Assocham.

“We are working on a policy to strengthen the export business. The government is also working on a policy to increase indigenous production of products that are being imported,” Assocham said in a statement quoting Sarangi.

He added that the ministry is taking steps towards making these enterprises global and improving the overall business environment, by making it more conducive and transparent for all stakeholders.

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