- The Policy Times
Enhanced Role for Experts to Support MSME for Strategic Planning for National Reincarnation
MSMEs are the growth accelerators of the Indian economy, contributing about 30% of the country’s gross domestic product (GDP). In terms of exports, they are an integral part of the supply chain and contribute about 40% of the overall exports.
Micro small and medium enterprises (MSMEs) have been accepted as the engine of economic growth and for promoting equitable development for any country. They are the manifestation of the entrepreneurial spirit of a nation and society.
The labor intensity of the MSME sector is much higher than that of large enterprises.
The MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports.