Know More About SMEs In India
Know More About SMEs In India The number of micros, small and medium enterprises in India (MSMEs) is the largest in the world after China. This sector is home to many companies that manufacture more than 6,000 products ranging from ordinary to high-tech. With the Union government's "Make in India" initiative and its efforts to attract foreign direct investment, India's MSME sector is expected to grow rapidly and become part of the significant global value chains. According to official estimates, the country has about 6.305 million micro-enterprises, 330,000 small and medium enterprises (MSMEs) and about 5,000 medium enterprises (SMEs). Uttar Pradesh has the highest number of estimated SME types, accounting for 14.20 per cent of the total number of SMEs in the country. West Bengal comes second with 14%, followed by Tamil Nadu and Maharashtra with 8%. The deployment of COVID-19 in India and the resulting lock-in has put a strain on the country's financia