MSMEs CONTRIBUTION TO ECONOMY
Economy, with more than 31 million units employing more than 80 million persons. Further, productivity of the MSME sector has been improving significantly with fixed investments and employment growing consistently over the past few years. This is a direct indication of the efforts focused on this sector to integrate the workforce with technological enhancements to increase production.
Key highlights of the MSME Sector:
- MSMEs account for about 45 per cent of India’s manufacturing output
- MSMEs accounts for about 40 per cent of India’s total exports
- The sector employs more than 80 million people in more than 31 million units spread across the country
- MSMEs manufacture more than 6,000 products ranging from traditional to high tech items
MSME’s Contribution to Exports
MSMEs have a crucial contribution in India’s present export performance. The sector accounts for around 45-50 per cent of the country’s export, of which direct exports from the sector account for nearly 35 per cent of total exports. Besides direct exports, it is estimated that small-scale industrial units contribute around 15 per cent to exports indirectly that takes place through merchant exporters, trading houses and export houses. They may also be in the form of export orders from large units or the production of parts and components for use for shown excellent growth rates in this decade.
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