The significance of India-first innovations to make future-ready MSMEs a reality

Posted under: MSME
Date: 2023-11-06
The significance of India-first innovations to make future-ready MSMEs a reality

India's vibrant economy boasts a whopping 63 million micro, small, and medium enterprises (MSMEs), vital contributors to the nation's ambitious ""Make in India, Made for the World"" vision. Expected to make a staggering USD 1 trillion contribution to India's total exports by 2028, these businesses already generate around 33% of the GDP. Despite their impact, they encounter several hurdles on their path to success. Recognizing the importance of ease of doing business (EoDB), I firmly believe that providing tailored educational initiatives, initial business support, and bespoke solutions tailored to their diverse needs is crucial for their growth. India's diverse market, characterized by regional disparities in language, culture, infrastructure, and wealth, underscores the need for personalized strategies to ensure a level playing field for businesses across the country.

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