Micro, small and medium enterprises employ over 111 million people and has a 31% share in the total manufacturing output. MSMEs account for 95% of the enterprises in the country and 40% of the total exports.
The 63.4 million MSME units in India contribute around 6.11% of the manufacturing GDP and 24.63% of GDP from service activities. The sector has consistently maintained a growth rate of over 10%. About 51.25% of the MSMEs are based in rural areas.
To read a very interesting report on the electrifying growth in India, please click here for the report of EEPC India: Indian Engineering – Electrifying Growth – EEPC India