Weaving a rich tapestry across diverse sectors, from textiles and food processing to IT and manufacturing, these MSMEs add vibrancy and resilience to the national fabric and are not just economic catalysts, but also social champions. They provide fertile ground for entrepreneurship, nurturing dreams and empowering individuals. The number of registered MSMEs in India has more than doubled from 36.1 million in 2012-13 to 79 million in 2022-23. This translates to a staggering 118% increase in just ten years. MSMEs contribute significantly to India’s GDP, accounting for over 30% of the total GDP and nearly 50% of the country’s exports. They are also job creators extraordinaire, employing over 120 million people, which is more than 40% of the total workforce in India.
Looking ahead, MSMEs must be nurtured to reach their full potential. Streamlined regulations, access to finance, and upskilling initiatives can fuel their expansion. By embracing technology and fostering a culture of innovation, these enterprises can become global powerhouses, propelling India’s journey towards becoming the world’s growth engine.
This platform is your roadmap to business mastery. Gain actionable insights on propelling your startup to new heights, navigating growth complexities, and scaling with strategic precision. Explore government reforms making it easier to thrive, and master financial tools for secure funding and long-term success.