MSMEs

Micro, Small and Medium Enterprises (MSMEs) are the backbone of India’s economy, contributing around 30.1% to Gross Value Added and accounting for nearly 45.8% of total exports as of 2024. Employing over 24 crore people across 5.7 crore enterprises, MSMEs are India's largest source of non-farm employment. With exports rising from Rs. 3.95 lakh crore in 2020–21 to Rs. 12.39 lakh crore in 2024–25, and growing formalization via platforms like Udyam and UAP, MSMEs play a vital role in driving inclusive growth, innovation, and rural development.

Recent Developments

  • In terms of employment, MSMEs are India's largest source of non-farm employment, ....
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Indian Economy