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The Micro, Small, and Medium Enterprises (MSME) sector in India is a vital component of the nation's economy, making substantial contributions to its expansion and advancement. MSMEs, which number over 63 million and are dispersed throughout several industries, are essential for creating jobs, encouraging entrepreneurship, and advancing equitable economic growth. These businesses stand out for their inventiveness, agility, and quick response to shifting market conditions. They serve a variety of markets, such as trade, manufacturing, and services, and they frequently operate as essential suppliers to bigger businesses. Through generating employment possibilities in remote locations and promoting socio-economic empowerment, the MSME sector is also essential to the advancement of rural development. Notwithstanding obstacles including lack of access to capital, technology, and experienced labor, the Indian MSME sector is still growing.

MSMEs are catalysts of growth and they are transforming India's economic landscape. In this blog, we have discussed how MSMEs are driving India's economic engine with innovation, job creation, and global competitiveness. From government initiatives to resilient entrepreneurship, explore the journey towards self-reliance and inclusive growth. Join us as we uncover the impact MSMEs have on shaping India's future. #MSMEs #Innovation #EconomicTransformation

Today, on International MSME Day, we applaud the significant contributions of Micro, Small, and Medium Enterprises to our country's economic growth and prosperity!! Every connection here been through this journey & many are still in the track👍 The 360degree trajectory in Nation building is reflected by below few stats 💵Employment :MSMEs employ over 110 million people, which is 40% of India's workforce! (Source: Ministry of MSME) 💰GDP Contribution :MSMEs contribute around 30% to India's GDP, making them a vital part of our economy. (Source: RBI) 🏭Manufacturing*: The MSME sector accounts for 45% of India's manufacturing output, producing goods worth over $100 billion. (Source: National Statistical Office) 🗺️Exports:MSMEs contribute around 40% to India's total exports, with a significant presence in sectors like textiles, leather, and handicrafts. (Source : FIEO) 💡Innovation: MSMEs are driving innovation in India, with over 50% of startups and entrepreneurs emerging from this sector. (Source: NASSCOM) Let's celebrate the spirit of entrepreneurship and the contributions of MSMEs to our economy! MSME Business Forum India MSME & Startups Forum - Bharat Ravi Nandan Sinha WICCI - Women’s Indian Chamber of Commerce and Industry #InternationalMSMEDay #MSME #SmallBusiness #Entrepreneurship #EconomicGrowth #IndiaGrows

Foresight initiated "Entrepreneurship for Economic Empowerment", as a means for economic empowerment create better employment opportunities. Since independence, India has been confronted with numerous issues creating divisions within society, such as rich & poor, rural & urban, educated & illiterate, among many others. In this 21st Century, nation encountered another unique division mainly demarcating the people with & without access to the Internet & IT, termed as the "Digital Divide" segregating those without this critical privilege. Towards bridging this gap, Foresight Society adopted a primary objective: to impart affordable IT Training & Skills to improve Digital Literacy & IT employability. nasscom Ministry of Electronics and Information Technology Praveen Arya #foresight #entrepreneurship #EmpowermentThroughEducation #Itskills #ITTraining #digitalliteracy #economicempowerment #nasscom

Why MSME Day the most important for India? Micro, Small, and Medium Enterprises (MSMEs) are crucial for India's economy for several reasons: Employment Generation: MSMEs are major job creators in India, employing around 110 million people. They provide employment opportunities, especially in rural and semi-urban areas, thereby contributing significantly to reducing unemployment and underemployment. Economic Growth: MSMEs contribute about 30% to India's GDP. They play a key role in the economic growth by contributing to industrial production, exports, and the overall economy. Entrepreneurship and Innovation: MSMEs encourage entrepreneurship and innovation. They provide a platform for individuals to start their own businesses, innovate, and introduce new products and services to the market. Balanced Regional Development: MSMEs promote balanced regional development. By setting up businesses in rural and less developed areas, they help in reducing regional imbalances and contribute to the development of these areas. Export Contribution: MSMEs contribute around 48% to India's total exports. They help in earning foreign exchange and enhancing the country's export competitiveness. Flexibility and Adaptability: MSMEs are typically more flexible and adaptable than larger enterprises. They can quickly respond to changing market demands and economic conditions. Support to Large Industries: MSMEs provide essential support to large industries by supplying raw materials, components, and services. This creates a symbiotic relationship between large enterprises and MSMEs, fostering industrial growth. Inclusive Growth: By providing opportunities to a diverse range of people, including marginalized and underprivileged sections of society, MSMEs promote inclusive growth and contribute to poverty reduction. Government Initiatives and Support: The Indian government has launched various schemes and initiatives to support MSMEs, such as the Credit Guarantee Fund Scheme, Pradhan Mantri MUDRA Yojana, and the Make in India initiative. These programs provide financial assistance, training, and other support to MSMEs. Local and Sustainable Development: MSMEs often utilize local resources and skills, promoting sustainable and environmentally friendly practices. They contribute to the development of local economies and communities. Overall, MSMEs are the backbone of the Indian economy, playing a pivotal role in its growth, employment generation, and socio-economic development. #MSME, #Smallbusiness, #Startup

#Indian #MSMEs: The Invisible #Heroes in the Country’s #Economic #Growth Story. It’s 2024, and the world continues to look towards India as the fastest-growing economy today. Large corporations are often seen as the drivers of this growth, but if you delve a little deeper, India’s micro, small and medium enterprises (MSMEs) are emerging as silent heroes. Over the past three years, they have consistently contributed to around 30% of India’s #GDP and between 40% to 50% of India’s exports. These numbers are certainly impressive for a segment that has been facing an onslaught of challenges in recent past. Thrown into the mix with large and established companies, many MSMEs have been forced to compete with them for a limited pool of customers. The COVID-19 pandemic dealt another heavy blow, pushing MSMEs into a tight corner due to operational disruptions, supply chain issues, limited access to funds and liquidity issues. Fast-forward to today, when newer geopolitical tensions only continue to add to MSME woes. But despite what the local and global economies throw at it, India’s MSME sector has emerged as a David among various Goliaths — resilient, persistent and highly resourceful. These numbers are proof that India’s MSMEs are not laggards in the country’s economy. They are equal drivers in its growth. ● 88% of SMEs have a digitisation strategy in place. ● The number of people employed by MSMEs grew 5x since July 2020. ● The MSME sector may be valued at 1 trillion by 2028. So, the next time you stop by your local auto repair store or pay digitally at the checkout counter in your local supermarket, remember that these small businesses were once forced to close their shutters — but they came back stronger and more resilient than ever. They represent the ambition and fire in all of us. Let their stories inspire all of us and strengthen the trust in Brand MSME and Brand India , and also inspire the studying population /passing population to start their #Entrepreneurial journey. Because today’s entrepreneur is tomorrow’s MSME, and today’s MSME is tomorrow’s large #Conglomerate — driving India’s economy onward and upward…#MSME #Growth

June 27th World Micro, Small, and Medium Enterprises (MSME) Day is celebrated on June 27th every year. International MSME Day 2024 Theme:  " 'Building a Stronger Future Together" MSMEs are micro, small, and medium enterprises that engage in the service sector or the manufacturing, processing, production, and preservation of goods. How do MSMEs contribute to the Indian economy? MSMEs make a crucial contribution to India's GDP. MSMEs contribute more than 29% to the GDP and are responsible for 50% of the country's total exports. They are also accountable for one-third of India's manufacturing output. MSMEs are classified into three categories: micro, small, and medium: Micro enterprises: Investment of not more than 1 crore and turnover of not more than 5 crore Small enterprises: Investment of not more than 10 crores and turnover of not more than 50 crores Medium enterprises: Investment of not more than 20 crores and turnover of not more than 100 crores "MSMEss are the backbone of India's economy driving innovation ,employment and regional development. The government's commitment to formalisation ,infrastructure, credit support , enterprise and skill development , technological assistance and market support for MSMEs is commendable" #linkedin #msme #msmeday #business #entrepreneur'

Did you know? MSMEs (Micro, Small, and Medium Enterprises) are the backbone of India's economy, contributing significantly to employment and GDP. Here are some key facts: Employment Powerhouse: MSMEs provide livelihoods to over 120 million people in India. GDP Contribution: They contribute around 30% to India's GDP, showcasing their vital role in economic development. Innovation Leaders: MSMEs are hubs of innovation, driving technological advancements and new business models. Global Competitiveness: They play a crucial role in enhancing India's export competitiveness. Despite their importance, MSMEs face challenges such as access to finance and regulatory compliance. Let's discuss how we can support their growth! #MSMEs #EconomicGrowth #SmallBusinessIndia #InnovationLeaders #GDPContribution #Entrepreneurship #BusinessInIndia

Celebrating MSME Day in India: A Pillar of Economic Growth On June 27th, India joins the global community in celebrating #MSMEDay, honoring Micro, Small, and Medium Enterprises (#MSMEs) that form the backbone of the nation's economy. This day highlights the vital role these enterprises play in fostering innovation, employment, and inclusive economic growth. MSMEs are pivotal in driving India's economic engine. According to the Ministry of Micro, Small and Medium Enterprises, the sector contributes approximately 30% to #India's GDP and employs over 110 million people. These enterprises are instrumental in generating jobs, reducing regional disparities, and promoting equitable development across urban and rural areas. The significance of MSMEs extends beyond their economic contributions. They are crucial in promoting entrepreneurship and innovation. Many MSMEs operate in niche markets, bringing unique products and services to consumers and enabling India to compete in global markets. The government of India has implemented various initiatives to support and strengthen MSMEs. Programs like the Prime Minister’s Employment Generation Programme (#PMEGP), Credit Guarantee Fund Scheme for Micro and Small Enterprises (#CGS), and the recent Emergency Credit Line Guarantee Scheme (#ECLGS) during the COVID-19 pandemic have provided much-needed financial support to this sector. However, challenges remain. MSMEs often face issues such as limited access to credit, inadequate infrastructure, and regulatory hurdles. To address these, continuous efforts are required from both the government and private sectors to create an enabling environment for MSMEs to thrive. On this special day, we extend our heartfelt gratitude to all the entrepreneurs whose businesses are under MSME. Your resilience, creativity, and hard work are the driving forces behind India's economic progress. As engines of economic growth and social upliftment, MSMEs are crucial to realizing India’s vision of becoming a $5 trillion economy. Let us celebrate their achievements and commit to fostering an ecosystem where they can flourish and drive sustainable development. #startupindia #Indianentrepreneur #entrepreneurship #Indiangovernment #vocalforlocal #MSME

With over 6.33 crore MSMEs (4+ crore registered) as of 2024; this sector is crucial to the country's economic fabric. However, only about 1% of these are small and medium-scale enterprises, with 49% based in urban areas and 51% in rural regions, aiding in reducing regional imbalances and enabling infrastructure development. Women-owned MSMEs make up 22.5% of the sector, contributing only 18.73% of employment and 10.2% of turnover. The sector is primarily service-oriented, with 62% in services and only 36% in manufacturing, collectively employing 11.1 crore people—an average of less than three employees per MSME. Despite contributing over 45% to India's exports, indicating high-quality products and services, MSMEs are projected to grow at only 2.8% CAGR, significantly lagging behind the economy's overall growth rate of 7%-8%. Additionally, MSMEs contribute just 30% to the nation's GDP, compared to 50%-60% in the US, UK, EU, and even African economies. The survival rate of family businesses within this sector is also concerning, with only 30% reaching the second generation, 12% surviving to the third, and a mere 3% continuing into the fourth generation or beyond. Given these insights, what do you think needs to change to enhance the growth and sustainability of India's MSMEs? How can we come together to help them scale and match their potential? Stay tuned as Minakkshi Sharrma and I explore these themes and more… #MSME #BusinessGrowth #EconomicDevelopment #Leadership #Entrepreneurship #Sustainability #firsttimeceos #ceosgurukul