Leading SMEs of India 2023

2 | Leading SMEs of India 2023 [ MESSAGE FROM MD’S DESK ] consumption expenditure can be expected to continue growing at a high rate and be an important driver for economic growth ƒ Infrastructure support provided by MSMEs: In its plans for FY24, Government has increased capital expenditure by 33% to a record 122 billion US Dollars. On the other side, private companies are also gradually gearing for capex-drivengrowthdrivenby improved capacity utilizations, deleveragedbalance sheets, and improving domestic demand. MSMEs which are enablers and last mile implementation partners are also geared for this push • Between FY20 and FY22, outstanding credit of MSMEs has increased at 12% CAGR reaching record levels of 245 bn USD. These statistics point towards improving business demand and capital spends by Indian MSMEs. ƒ System push through tech based platform for MSME growth: Technology is a gamechanger today. Sadly, technology adoption has remained a major deterrent for Indian MSMEs to scale their operations and to compete globally. Indian MSMEs need to upscale and integrate operational capabilities through adoption of requisite technologies. MSMEs can look for start-ups and technology firms focused on providing new-age technology solutions such as providing data insights, artificial intelligence, augmented reality, machine learning and the Internet of Things which can help them to harness the full potential of tech deployment in their operations In summary, with these five pillars, the future of India is intricately tied to the future of MSMEs. To truly achieve the vision of “Aatmanirbhar Bhavishya” and a 5 trillion USD economy by 2025-26, the growth and sustainability of MSMEs is of paramount importance. This publication is a ready reckoner for Indian and global CXOs of leading corporates, small and medium sized enterprises, government ministries and industry associations. For the listed SMEs, it is a global platform of recognition. The profile and success stories of the award winners, as well as the expert perspective on the sector will provide much needed inspiration to business across the country. I believe this latest publication from Dun & Bradstreet will serve as an indispensable resource to enhance your business acumen and gain valuable insights to achieve higher growth. I look forward to receiving your valuable feedback and suggestions. Avinash Gupta Managing Director & CEO – India Dun & Bradstreet Dun & Bradstreet