MSMEs – Advantage India
Solidifying India's Position on the Global Stage
MSME is the cornerstone of the Indian economy and an integral component to emerge as a $ 5 trillion economy by 2025. At present, there are over 633.9 lakh MSMEs in India. 324.9 lakh enterprises are in rural areas, and 309 lahks are in urban areas. Having said that, this sector plays a pivotal role in employment with a low capital requirement. MSMEs help in uplifting rural & less developed areas, regional imbalances & inequality reduction, and complement large industries & companies by providing necessary parts & components. In short, MSMEs are imperative for socio-economic development.
New-age technologies are spurring new business models—enabling small businesses to sell products online, connecting lenders with borrowers via a single platform, utilizing financial data to provide real-time insights, etc. More than that, helping MSMEs automate and generate intelligence to enhance productivity, grow, and thrive.
Going forward, GoI reform measures are fast-tracking the sector recovery and revival, boosting products made in India, and providing much-needed growth stimulus for MSMEs.