India targets 90 million MSMEs by 2029, highlighting their key role in GDP, manufacturing, and exports.

A senior Indian government official projects that the number of registered Micro, Small, and Medium Enterprises (MSMEs) will rise to 90 million by 2029, up from over 60 million currently. MSMEs contribute significantly to the economy, accounting for more than 30% of GDP, 36% of manufacturing output, and over 45% of exports. The sector is seeing faster credit growth from banks compared to large enterprises.