Workshop on Cost and Competitiveness of MSMEs in India

MSME sector is the backbone of the Indian Economy as it contributes to approximately 30% of India’s GDP, 45% of global exports, and is the second highest employment generator after agriculture. Realising the vision of a “Viksit Bharat - aspiring to become a developed economy by 2047”, necessitates strengthening the MSME sector and making it resilient.

Despite MSMEs’ immense economic potential, these enterprises face challenges with respect to their cost and competitiveness. To create an enabling environment, the Ministry of MSME has planned to undertake a comprehensive initiative to gather grassroot level challenges and formulate interventions to enhance cost and competitiveness of Indian MSMEs. The aim is to make MSMEs adapt and resilient to external fluctuations and place them at par with the global standards.

In order toput this vision into action, a three-tier programme with a bottom-up approach from Cluster to Zonal, and National Level, has been planned. This bottom-up approach will capture grassroots challenges, consolidate sector specific insights, and translate them into targeted policies, schemes and regulatory interventions.