Leading SMEs of India 2023

52 | Leading SMEs of India 2023 INDIAN SME SECTOR OVERVIEW W h i l e t h e wo r l d i s g r a p p l i n g w i t h economic uncertainty, India continues to perform well and remains as one of the fastest growing economies in the world. It acts as one of the key growth engines, driving economic growth through consumption, investment, and trade. For India to remain on a high growth trajectory and achieve its target of becoming a USD 5 trillion economy by 2025, it will have to focus on Micro, Small andMediumEnterprises (MSMEs). The development of the MSME segment is extremely crucial, as it will not only help in India’s quest to establish itself as a manufacturing hub but will also generate new employment opportunities for large pool of young population. Moreover, the sector will also nurture the development of new entrepreneurs and percolate growth down to the last man attaining ‘Sarvodaya’ (Universal Uplift). This will ultimately act as the roadmap for building ‘Atmanirbhar Bhavishya’. Atmanirbhar Bhavishya stands on five strong pillars: Economy, I n f r a s t r u c t u r e , S y s t e m , Demography, andDemand. These five pillars are rightly aligned with India’s key economic priorities for achieving robust, climate resilient and inclusivegrowth.Moving in this direction, the role of MSME sector will be crucial as they will help create employment opportunities, attract new investments produce a diverse range of products, and eventually contribute towards more inclusive economic growth. Dun & Bradstreet