India has the largest MSME base in the world after China. The sector provides a wide range of services and is engaged in the manufacturing of over 6,000 products, ranging from traditional to hi-tech items. Given the government of India’s push for a self-reliant economy, or Atmanirbhar Bharat, the Indian MSME sector is poised for rapid growth and is seeking greater integration with major global value chains. India’s micro, small, and medium enterprises (MSMEs) enjoy significant government policy support, such as through sector-based production-linked incentives (PLI) programs, incentives targeting specific regions like the Northeastern states, or schemes for businesses linked to technical skilling and digital tools, applications, and technologies, among others. As of June 2023, there were 20.09 million MSMEs registered on the Udyam portal, including 19.4 million micro enterprises, 554,000 small enterprises, and about 52,000 medium-sized enterprises.
India has the largest MSME base in the world after China. The sector provides a wide range of services and is engaged in the manufacturing of over 6,000 products, ranging from traditional to hi-tech items. Given the government of India’s push for a self-reliant economy, or Atmanirbhar Bharat, the Indian MSME sector is poised for rapid growth and is seeking greater integration with major global value chains. India’s micro, small, and medium enterprises (MSMEs) enjoy significant government policy support, such as through sector-based production-linked incentives (PLI) programs, incentives targeting specific regions like the Northeastern states, or schemes for businesses linked to technical skilling and digital tools, applications, and technologies, among others. As of June 2023, there were 20.09 million MSMEs registered on the Udyam portal, including 19.4 million micro enterprises, 554,000 small enterprises, and about 52,000 medium-sized enterprises.