India’s Micro, Small, and Medium Enterprises (MSMEs) have demonstrated impressive growth. The MSMEs’ exports have increased from Rs 3.95 lakh crore in 2020-21 to an estimated Rs 12.39 lakh crore in 2024-25.
This surge highlights the sector’s critical role in enhancing India’s economy and reinforcing its position in global trade. The number of exporting MSMEs has also grown significantly, increasing from 52,849 in 2020-21 to 1,73,350 in 2024-25.
MSME’s Export Witness Robust Growth
The MSME sector’s contribution to India’s total exports reached 45.73% in 2023-24, with a slight rise to 45.79% by May 2024. This underscores the sector’s growing influence on the country’s trade performance. Over the years, MSMEs have consistently shown remarkable resilience and adaptability.
This has a significant impact on India’s GDP. In 2017-18, the Gross Value Added by MSMEs was 29.7%, and this rose to 30.1% in 2022-23. This highlights the sector’s ongoing contribution to economic growth.
The dynamism of India’s MSME sector is further reflected in the upward mobility of businesses within the sector. From 2020-21 to 2021-22, 714 micro enterprises scaled up to medium size, and 3,701 small enterprises upgraded to medium enterprises.
This upward trend has continued, with 2,372 micro-enterprises and 17,745 small enterprises transitioning to medium scale in 2023-24 to 2024-25. This has reflected the sector’s robust growth trajectory.
Overall, India’s MSMEs are proving to be a key driver of economic growth and global trade, positioning the country for even greater success in the years ahead.
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