MSMEs: Heartbeat of India's Economy Landscape

Posted under: MSME
Date: 2023-09-11
MSMEs: Heartbeat of India's Economy Landscape

India, the world's 5th-largest economy, over 63 million MSMEs and embodies the 'Vasudhaiva Kutumbakam' philosophy, a philosophy sustained through trade, ideas exchange, and science, reflecting its 5000-year-old civilization. India's 'Amrit Kaal' initiative, aiming for a $35-45 trillion economy by 2047, is a significant global policy shift centered on global harmony and collective responsibility. MSMEs significantly contribute to India's economic transformation, employing 49% of its workforce and fostering unity and cooperation, aligning with the country's global vision. During India's G20 Presidency, e-commerce platforms have been instrumental in promoting digital trade, bridging geographical barriers, and connecting artisans to a global audience. The ONDC initiative aims to revolutionize small merchants' operations, promoting innovation and leveraging digital advancements to elevate India to the world's largest economies.

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