India’s growth relies considerably on micro, small, and medium enterprises (MSMEs) that contribute significantly to the GDP. In view of its significance, The Development Centre (DC) aims to provide adequate support to ensure Indian MSMEs’ are able to achieve desired growth, especially in this post-pandemic era. The current economic situation is also not conducive to Indian MSMEs as it prevents this sector from functioning well. Similarly, Entrepreneurs (big or small) experience business challenges all the same. There are great risks involved and it takes a lot of courage, perseverance as well as patience to reach the top of the ladder.

As a result, to ensure Indian MSMEs’ are able to overcome their business challenges. The Development Centre offerings for MSMEs are backed by industry leaders who bring the wealth of real world experiences and factual growth strategies. It would help Entrepreneurs and MSMEs get hold of the valuable knowledge for managing business operations, implementing best practices and more.

According to CII and EY report, India can attract foreign direct investments (FDI) of US$ 120-160 billion per year by 2025. Over the past 10 years, the country witnessed a 6.8% rise in GDP, with FDI increasing to GDP at 1.8%.

World Bank announced a US $750 million budget support to 15 crore MSMEs to increase liquidity access for viable small businesses impacted by COVID-19.

Employing over 11 crore workers, MSMEs contribute 29% of India’s GDP and comprise almost half of its exports. While there are about 90.19 lakh registered MSMEs, there may be more than 6.33 crore MSMEs out of which 6.30 crore or 99.4% are micro-enterprises while 0.52% — 3.31 lakh are medium and 0.007% — 5,000 are medium enterprises.

Indian MSMEs are known for producing better-quality products. A robust credit provisioning with more straightforward compliance frameworks backed by technology upgrades will succeed in #rebooting #India.