MSME

In India, the Micro and Small Enterprises (MSEs) sector plays a pivotal role in the overall industrial economy of the country. It is estimated that in terms of value, the sector accounts for about 39% of the manufacturing output and around 33% of the total export of the country. Further, in recent years the MSE sector has consistently registered higher growth rate compared to the overall industrial sector. The major advantage of the sector is its employment potential at low capital cost. As per available statistics, this sector employs an estimated 31 million persons spread over 12.8 million enterprises and the labor intensity in the MSE sector is estimated to be almost 4 times higher than the large enterprises. It is also It is their dexterity, flexibility and innovation that have helped the Indian SMEs stand the test of time to face economic cycles and emerge stronger, smarter, leaner and more resilient.

Despite significant contribution in country’s GDP, SMEs are smeared with myriad challenges. Needless to say that it is highly unorganized sector and performance is not as expected as it carries the potential.

Keeping in view these imperative aspects, IBCHAM National council for MSMEs has taken the responsibility and committed to make the SMEs realize the virtues of professionalism, sound disclosures, tax- consciousness, building credit worthiness to generate the required capital and investment in technology, people and good governance.

IBCHAM (Indian Business Chamber) strongly believes that these entire changes auger well for the sector and will outperform the result beyond expectations.