- Financial Express
"How credit guarantees can revolutionize financing for India’s nano entrepreneurs’"
Credit and Finance for MSMEs: India’s micro, small, and medium enterprises (MSME) sector is the source of innovation and livelihood for millions of people. The country’s 63 million MSMEs represent 30 percent of India’s GDP and the largest source of employment. One in six of these MSMEs are nano enterprises: very small, informal businesses run by nano entrepreneurs. These nano entrepreneurs have often not had the benefit of receiving a college education, which prevents them from working in the formal economy. Typically they earn less than around Rs 25,000 a month, but they run smart businesses with big growth potential, and they represent a credit market of Rs 2 lakh crore.