Role of Micro, Small and Medium Enterprises in India
Economy
2 min read
As per the latest information received from Ministry of Statistics & Programme Implementation, the share of MSME Gross Value Added (GVA) in all India Gross Domestic Product (GDP) during the year 2019-20, 2020-21 and 2021-22 was 30.5%, 27.2% and 29.2% respectively.
As per the information received from Directorate General of Commercial Intelligence and Statistics (DGCIS), the share of export of MSME specified products in all India exports during the year 2020-21, 2021-22 and 2022-23 was 49.4%, 45.0% and 43.6% respectively.
The share of MSME manufacturing output in all India Manufacturing output during the year 2019-20, 2020-21 and 2021-22 was 36.6%, 36.9% and 36.2% respectively.
Micro, Small and Medium Enterprises
- The Ministry of Micro, Small and Medium Enterprises implements various schemes for the growth and development of the MSME sector in the country in areas of credit support, new enterprise development, formalization, technological assistance, infrastructure development, skill development and training and market assistance to MSMEs.
- The schemes/programmes inter alia include Prime Minister’s Employment Generation Programme (PMEGP), Credit Guarantee Scheme for Micro and Small Enterprises (CGTMSE), Micro and Small Enterprises-Cluster Development Programme (MSE-CDP), Entrepreneurship Skill Development Programme (ESDP), Procurement and Marketing Support Scheme (PMS) and National SC/ST Hub (NSSH).
Classification of Micro, Small and Medium Enterprises
|
Name of Enterprise |
Investment |
Turnover |
|
MICRO |
Not more than Rs. 1 Crore |
Not more than Rs. 5 Crore |
|
SMALL |
Not more than Rs.10 crore |
Not more than Rs. 50 Crore |
|
MEDIUM |
Not more than Rs.50 Crore |
Not more than Rs. 250 Crore |
