Leading SMEs of India 2023

Leading SMEs of India 2023 | 53 [ INDIAN SME SECTOR OVERVIEW ] ECONOMY While MSMEs have evolved as key drivers of employment and regional development, they have also contributed immensely to the Indian economy in terms of output, exports, and investments. MSMEs contributes 30% to the GDP, 40% to India’s manufacturing output, and accounts for 45% of India’s exports. As per Udyam regi s t rat ion, 16.9 mn MSMEs have been registered on the portal, providing employment to 118million people as of June 2023. Out of the total registered MSMEs, 96.3% are micro enterprises, 3.3% are small enterprises, and mere 0.3% are medium enterprises. Amongs t MSMEs , 31% a r e involved in manufacturing, 36% in trading and 33% are involved in services sectors of the economy. Maharashtra has highest Udyam registered MSMEs at 18.3%, fol lowed by Tami l Nadu and Uttar Pradesh at 10.4% and 8.6% respectively. INFRASTRUCTURE Infrastructure plays a key role in economic growth through its multiplier effect, makes a strong pillar of Aatmanirbhar Bhavishya. MSMEs have contributed to Indian infrastructure through capital formation and globalisation. Dun & Bradstreet