Self Reliant India ( MSME Development)

 MSME means Micro,Small and Medium Enterprises. It is one of the most dynamic sector of the Indian economy from the last four to five decades.MSMEs are complementary to large industries and they provide socio-economic development of the country.

Government of India is now focusing heavily on development of MSME sector because they can act as a wheel for India's overall growth and development. Worldwide, MSMEs have been accepted as the engine of economic growth and for promoting equitable development.They constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth.With low investment requirements, operational flexibility and the capacity to develop appropriate indigenous technology, MSMEs have the power to propel India to new heights.

It is the second largest employment generating sector after agriculture in India. It provides employment to more than 120 million people in India. With around 36.1 million units throughout the geographical expanse of the country, MSMEs contribute around 6.11% of the manufacturing GDP and 24.63% of the GDP from service activities.It contributes around 45% of the overall exports from India.

MSME ministry has set a target to up its contribution to GDP to 50% by 2025 as India becomes a $5 trillion economy.