Contribution of the Micro, Small and Medium Enterprises in the Indian economy


·       At present, nearly 36.1 million units of Micro, Small and Medium Enterprises are engaged in production in India.

·       MSMEs offer employment to around 120 million people in India.

·       MSMEs produce more than 6000 products in total production of the country.

·       They contribute around 6.11% of the manufacturing GDP and 24.63% of the GDP from service activities.

·       MSMEs manufactures nearly 45℅ of the total output of the country.

·       They are responsible for a 40% share of total export of India.

·       It boosts the lending activities of banks by 16%.

·       This sector has invariably grown at an average rate of 10% annually.

·       It contributes about 8% to the country's GDP.

·       According to the study done by the Confederation of Indian Industries (CII), the MSME's contribution will be around 50% in the India's GDP by 2024.

 

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