Government is working to form a new MSMEs policy keeping in view the industry policy of state governments. Addressing Media in New Delhi today, Micro Small and Medium Enterprises minister Kalraj Mishra said, MSME is the backbone of Indian economy and it plays an important role in generating employment. The minister informed that MSME procurement will become mandatory for Public sector units from April next year onwards.Mr Mishra said, the government is planning to organize job fare for youths and his ministry is in touch with many companies. The minister said, MSME sector contributes around 8 per cent of GDP, 40 percent of total export and around 45 percent of the manufacturing outputs.