Leading SMEs of India 2023

Leading SMEs of India 2023 | 1 [ MESSAGE FROM MD’S DESK ] LEADING SMEs OF INDIA: THE ROADMAP TO AATMANIRBHAR BHAVISHYA India has 27 million ‘commercially visible’ entities in India of which over 99% are Micro, Small and Medium Enterprises (MSMEs). These MSMEs are the powerhouses of India’s economy. Being the second-largest source of employment, next only to agriculture, MSMEs have been playing a critical role in the country’s overall economic development and inclusive growth. MSMEs have also been promoting entrepreneurial zeal, attracting much-needed investments for the country. As a long-standing knowledge partner to Indian companies, Dun & Bradstreet has been working closely with MSMEs supporting them through multiple channels such as research, policy advocacy, credit enablement, capacity building, engagement, networking, and awards. Dun & Bradstreet has also partnered with SME enablement and support institution such as SIDBI, ECGC, ONDC, SMERA and NSIC. In line with our ethos, Dun & Bradstreet is pleased to launch the 14th edition of its premier publication, ‘Leading SMEs of India 2023’ . It encapsulates the vibrant pulse and diverse landscape of the industry and provides a comprehensive insight of the industry’s unique dynamics, trends, and challenges. The edition also lists 4,000 SMEs across multiple categories shortlisted based on D&B’s proprietary methodology, considering financials and operational performance of the company. The theme of this year’s edition is, ‘The Roadmap to Aatmanirbhar Bhavishya’ in the forerun to India’s prospects of becoming self-reliant and a leading manufacturing hub for the world. The roadmap to this ambitious goal is based on five parameters: economy, demography, demand, infrastructure, and system, and how SMEs are charting their strategies to achieve this mission. Contribution of MSMEs to the Indian economy: MSMEs contribute 30% to the GDP, 45% of India’s exports, and 40%of manufacturing output for FY22. For every INR100 of GDP created,MSMEs contribute to INR 30, which the government aims to increase to INR 50 by 2025-26. Demographic dividends: MSMEs are instrumental in creating all-round and balanced growth. They directly or indirectly provide employment to 25% of people, support rural employment with half of MSMEs based in hinterlands. They have also helped to improve rural women participation rate from ~20% in FY19 to ~28% in FY22 Demand push by MSMEs: MSMEs contributes to job creation in a big way and thereby support private consumption expenditure growth, which accounts for ~60% of India’s GDP. A total of 13 million people were employed by MSMEs incorporated during FY21 & FY22. With more jobs being created, Dun & Bradstreet