Overview
Micro, small and medium enterprises occupy an important place in the economy by supporting the growth and development of largescale industries as well as generating employment opportunities. The post pandemic era will witness a major overhaul of traditional business models which will be empowered by digital technologies to enable every aspect of operations. Furthermore, the evident rise in internet penetration and ecommerce across the nation has widened the scope of SME’s potential markets. India has approximately 6.3 crore MSMEs (MSME Ministry data), as of May 16, 2021 – registered micro-enterprises stood at 28 lakh, small enterprises at 1.78 lakhs and midsized enterprises at 24,657. The Indian MSMEs sector contributes about 29% towards the GDP through its national and international trade.
