2 min read.Updated: 26 Jun 2020, 07:49 AM ISTDeepak Jain,Ravi Swarup,Gaurav Nayyar
MSMEs should build a scaled exports portfolio for fast recovering markets like Europe and South East Asia
The micro, small and medium enterprise (MSME) industry forms the backbone of India. Approximately 60 million MSMEs employ a workforce well over 110 million and contribute to about 30% of India’s GDP. According to the Bain-PRICE survey in 2018, more than 50% of all income earners in India are self-employed across income groups and therefore, the development of the MSME sector is critical to India’s growth aspirations.