India home to over 6.3 Crore MSMEs

at 5:25 pm

New Delhi. India is home to more than 6.3 crore Micro, Small and Medium Enterprises (MSMEs), which have the ability and capability to access international markets and work as ancillaries to larger international firms.

In terms of exports, the sector holds high potential in various sub-sectors such as textiles, leather & leather goods, pharmaceuticals, automotive, gems & Jewellery etc. with overall contribution of 45 percent, an official statement released today on the occasion of National Small Industries  Day said.

Indian economy has shown an excellent growth performance over the past few years and is likely to emerge as one of the leading economies in the world, poised to become USD 5 trillion economy by 2025.

A major impetus is to be made to reinforce the overall Entrepreneurship Development eco-system and impediments needs to be understood in terms of internationalization of these enterprises, release added.

Ministry of MSME has been tirelessly working towards development of MSMEs and has undertaken interventions to enhance MSME ecosystem in India