Micro, Small and Medium Enterprises

MSME in India

  • The sector contributes about 45% to manufacturing output, more than 40% of exports and over 28% of the GDP.
  • MSMEs require low capital to start the business but create huge employment opportunities for about 111 million people, which in terms of volume stands next to agricultural sector.

Definition of MSME

  • The definition has been changed recently based on the report of the ‘Expert Committee on Micro, Small and Medium Enterprises’ under the chairmanship of U.K. Sinha.

Challenges faced by MSME

Lack of adequate and timely credit Ineffective ....

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Indian Economy