MSMEs (Medium, Small and Micro Enterprises) are the backbone of India’s economy as they account for nearly 40 per cent of the country’s manufacturing. The sector is also a cradle and breeding ground for tomorrow’s industry champions.
The rapid development in technology and globalisation, however, threatens the economic viability of many MSMEs, especially those lacking resources and foresight to keep them abreast with the latest development in their industry. The emerging environment however also presents a world of opportunities for MSMEs willing to adapt and master new technologies. This was the topic of discussion at the Business Standard Smart Business