The importance of MSMEs in Indian Economy and Enterprise Creation

Micro, Small and Medium Enterprises (MSMEs) continue to be the largest job creator in the country contributing significantly to the nation’s Gross Domestic Production (GDP) as well as exports. However, several challenges restrict their ability to tap the opportunities to fullest potential. While the challenges are varied in nature including lack of enough govt. support, access to funding, delay in payments by the clients, the biggest factor that restricts the growth of the sector is the lack of access to information, according to majority of the founders, promoters and senior executives of MSMEs who attended the Business Standard Smart Business