MSMEs, making up an impressive 97.7% of all enterprises in the country are the backbone of the Indian economy and tomorrow’s large business houses. It accounts for nearly 32% of India’s GDP and is the second largest employer after agriculture, particularly in the semi-urban and rural areas. Within the broad gambit of the MSME sector, Microenterprises constitute nearly 96% of overall MSME units.

Optimising the performance of MSMEs is, therefore, a critical need in the economy. They should be motivated to upgrade technology, adopt ESG (Environmental, Social and Governance) best practices, and standardise products to enhance their global competitiveness…read more