18 Aug 2022 The micro, small and medium enterprises sector has a multiplier effect on an economy as a primary job creating sector, a prerequisite for economic growth, and empowerment of the population at large. MSMEs contribute 28% to India’s GDP, employing approximately 110 million people nationwide, including a large…
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Maximizing MSME Outreach to Become Globally Competitive and Future Ready
22 Jun 2022 In the pre-covid era, online commerce was quite prevalent but always met with resistance for several reasons primarily influenced by the traditional mindsets. However, the pandemic led to a global crisis and impacted businesses across the world, especially small businesses, which were yet to embark on their…
Making digital literacy a national movement; how MSMEs, NBFCs can lead to India’s economic growth
16 Nov 2020 There’s a zen story that came my way the other day. Two men visited a Zen master. The first man asked: “I’m thinking of moving to this town. What’s it like?” The Zen master, in turn, asked a question, “How was your old town?” The man answered,…
Making MSMEs Globally Competitive During COVID Times And Beyond
08 Sep 2020 In a post-COVID world, economies across the globe would be judged on a new parameter, i.e., the way they handled the crisis. It has changed the way of doing business, thereby changing economic developments all over the world. Pre-Corona, the Micro, Small, and Medium (MSME) sector, considered…
Select COVID-19 CII Policy Recommendations for MSME Sector COVID-19 CII Policy Recommendations for MSME Sector
27 Mar 2020 The exponential growth of Coronavirus across the world and its detrimental effect on the world economy is evident and profound. Policymakers, apart from fighting this disease, are looking for ways to mitigate its economic impact. The conundrum, however, is the payoff of containing this disease. At the…
MSME: Growth Driver of the Indian Economy
30 Jan 2020 The MSME sector is one of the key sectors of the Indian economy. Being one of the biggest job creators, small enterprises contribute significantly to the economy. The sector is the backbone of the national economic structure and has imparted resilience to ward off global economic shocks…
Redefining MSMEs will give the sector a boost
09 Jan 2020 A turnover-based classification will allow MSMEs to invest more in tech. This will help improve their competitiveness Micro small and medium enterprises (MSMEs) have always been vital in the socio-economic development of India. Spread across both urban and rural areas, MSMEs produce a diverse range of products…
Achieving a Financially Inclusive India with MSMEs
25 May 2019 Entrepreneurship flourishes in India – from a small corner shop to small businesses, people toil day and night to turn their dreams into a reality. Many start as very small enterprises and grow bigger to become a part of the Micro, Small and Medium Enterprises (MSME) sector,…
Easing Financing Challenges of MSME Sector
14 Nov 2018 Short Term Recommendations The vibrancy of the Micro, Small and Medium Enterprise (MSME) sector in the macroeconomic context cannot be overstated as it accounts for 7% of India’s GDP, 45% of total manufacturing output, and 40% of Indian exports while employing over 117 million people. Given the…
Access to Credit will Boost MSME Growth
22 Jun 2018 The Indian MSME sector has expanded substantially over the years and contributes significantly to India’s growth and employment. MSMEs contribute approximately 45% of India’s manufacturing output, 40% of the overall Indian exports and provide employment to around 117 million people. With a large presence of MSMEs in…