Leading SMEs of India 2021

17 96% 4% Types of Establishment Proprietar y concer n Ot he rs Source: Annual Report 2020-21 issued by Ministry of Micro, Small and Medium Enterprises Most entities in the MSME sector operate in an informal environment and this is evident from the ratio of establishment type with over 96% of the MSMEs registered as proprietary concerns. While this informal nature of operations allows them to take faster decisions due to minimal bureaucracy, it also deters the entities from availing credit from banks and financial institutions. 79.6% 20.4% Ow ne rship by G ende r Male Fe male Source: Annual Report 2020-21 issued by Ministry of Micro, Small and Medium Enterprises One of the key objectives of the MSME sector is to strike balance in the progress of certain regions and communities that lack basic resources for conducting business. The 73rd NSS Survey revealed that around 80% of the MSMEs are owned by males. However, government continues to promote women empowerment and has initiated various special schemes for women entrepreneurs. Also, another observation suggests that the top 5 states - Uttar Pradesh, West Bengal, Tamil Nadu, Maharashtra and Karnataka had ~45% of the total number of MSMEs. Micro, Small & Medium Sector has the potential to strengthen the socio-economic growth of the nation by solving unemployment issues of the country at the local level. This shall aid inminimizing the inequalities between the geographical areas and bring in economic balance; and further reduce the population load on the metro/mega cites. As per the 73rd NSS Survey, MSMEs created approximately 497.78 lakh jobs in the rural areas. Dun & Bradstre t