India's MSMEs increased from 1.65 crore to 5 crore registered entities, contributing significantly to GDP, manufacturing, exports, and employment.

India's micro, small, and medium enterprises (MSMEs) surged from 1.65 crore to 5 crore registered entities in the past year, enhancing their formalization. The government plans to raise credit guarantees via the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) from ₹4 lakh crore to ₹5 lakh crore over two years. MSMEs contribute 30% of GDP, 36% of manufacturing, and 44% of exports, employing 21 crore people, crucial for economic stability.

September 10, 2024
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