MSMEs
MSMEs (Micro, Small, and Medium Enterprises) in India are businesses characterized by their small scale of operations and limited investment in plant and machinery, contributing significantly to economic growth and employment generation.
MSMEs in India
- Growth: As of December 2023, 21.5 million MSMEs were registered, with Maharashtra leading in registrations. The number of MSMEs is expected to grow to 7.5 crore, with increased digital adoption and government spending, reaching Rs. 23,583.90 crore in FY23.
- Employment Generation: MSMEs are the second largest employment sector in India, employing around 120 million people.
- Contribution to GDP: With 36.1 million units, they contribute 6.11% to ....
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