Ground Reality

 Amid sprouting of a multitude of start-ups, the MSMEs (Micro, Small and Medium Enterprises) sector appears to be on the cusp of sharp growth with the government’s plans aimed at giving a fillip to the sector start unfolding slowly and steadily. With an eye on the MSMEs potential-contributing eight per cent of the country’s GDP- the Centre has recently announced a slew of schemes for ease of business. India is expected to emerge as one of the leading economies in the world and is poised to outpace 7.3 per growth of last fiscal as per assessment of the Finance Ministry. Much of this growth is expected to come from the MSMEs which is acting as the key driver. MSMEs at present account for approximately 50% of GDP in the developed countries creating 45% of overall employment. In India, it plays a crucial role in the GDP and employs 106 million people in the workforce. The sector, which accounts for 40 per cent of total exports and 45 p...

MSMEs charter growth flight  India has gained by four notches in the word Bank's ranking of Ease of Doing Business. It has moved to revised rank of 134 and 12 places  over the original ranking of 142 last year. The latest ranking puts India at 130  position out of 189 countries.  Prime Minister Narendra Modi has tweeted that it would provide boost to "Make in India",but Finance Minister Arun Jaitley opines  that the ranking does not fully reflect the slew of reforms taken by the government.   In MSME sector too, a string of reforms have been initiated and if all taken into account, the ranking will improve ,but the goal of being in the first 50 is a distant one but not impossible in a few years time, experts feel quoting recent reforms for MSMEs.    Amid sprouting of a multitude of start-ups, the MSMEs (Micro, Small and Medium Enterprises) sector appears to be on the cusp of sharp growth with th...