- Business Magazine
What is the contribution of MSME in the Indian Economy
There’s no doubt that the contribution of Micro, Small and Medium Enterprises (MSMEs) have been tremendous in the past few decades. Several reasons can be stipulated which serves as proof that MSMEs have a positive impact and have massively contributed to the country’s economy.
Before we get into the juicy details of these enterprises and what have they done to be a significant part of the economy, let us look through some statistics.
It is incredible that this sector alone contributes to almost 45 per cent of the total employment opportunities in the country, 50 per cent of total exports from India, 29 per cent of total country’s GDP (Gross Domestic Product) and 95 per cent of total industrial units in the country.
Further, the Central Government plans a contribution of $2 trillion from the Micro Small and Medium Enterprises (MSMEs), which will eventually lead India, in accomplishing the goal to become a $5 trillion economy by 2024.