MSMEs are important for the national objectives of growth

In India role of micro, small and medium enterprises (MSMEs) in the economic and social development of the country is well recognised. MSME sector is a nursery entrepreneurship, often driven by individual creativity and innovation. This sector contributes 37.54 per cent of the country’s GDP, 37.33 per cent of the manufactured output and 40 per cent of total exports. The MSME sector provide employment to about 117 million persons through 51 million enterprises. The labour to capital ratio in MSMEs and the overall growth in the MSME sector is much higher than in the large industries. MSMEs are more evenly distributed in different geographic parts of the nation. Thus, MSMEs are important for the national objectives of growth with equity and inclusion. (Annual Report 2015-16, Ministry of Micro Small and Medium Enterprises, Government of India.)



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