- CA Nikhil Jobanputra
MSMEs (Micro, Small & Medium Enterprises) | CA Final SFM (New Syllabus)
Introduction to small and medium enterprises:
Small and medium enterprises (SMEs), particularly in developing countries, are the backbone of the nation's economy. They constitute the bulk of the industrial base and also contribute significantly to their exports as well as to their Gross Domestic Product (GDP). Micro, Small and Medium Enterprises (MSMEs) contributes 8% of the country's GDP, 45% of the manufactures output and 40% of our exports. It provides employment to about 6 cr. people through 2.6 crore
enterprises. The Micro Small and Medium Enterprises (MSME) sector forms the largest generator of employment in the Indian economy. It forms a major portion of the industrial activity.