What are MSMEs?

Micro Small and medium enterprises (MSMEs) are organizations that look after revenue, resources, or various workers under a specific limit. Every nation has its own meaning of what establishes a micro small and medium enterprise (MSME). Certain size standards should be met and every so often the business in which the organization works is considered also. 


In spite of the fact that little in size, micro small and medium enterprises (MSMEs) has a significant part in the economy. They outnumber huge firms impressively, utilize immense number of individuals for employment, and are usually entrepreneurial in nature, assisting with forming innovation.

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

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·        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. · ...
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Conclusion

The setup and prosperity of Micro Small and Medium Enterprises is a resourceful intake leading to the rapid development of economic and social potentials. CSR activities can help to a great degree in improving the survival rate of MSMEs and may offer more chances for business competitiveness, nationally and globally. MSMEs are the steroids that the Indian Economy requires at this juncture and Most of the SMEs being anchored in towns and villages or in remote areas they have significant adaptability to the local environments, exposure to local issues, and also access to local resources, Thus, they are eminently suited to do CSR activities.
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