Context
MSME manufacturing firms have been imperative to the growth of the Indian economy. These small to medium sized ventures have always contributed largely to the country’s GDP, hence contributing to different aspects of its development.
Thus, there is urgent need of exclusive emphasis on this sector to further transform the economy.
Background
Analysis
What are MSMEs?
Ministry of MSME targets to increase the contribution of MSME towards GDP by up to 50% by 2025 as India moves ahead to become a $5 trillion economy
Benefits of MSME-
Indian economy-
Challenges faced by MSME sector
Government initiatives for the promotion of the sector
Key suggestive measures
Conclusion
To promote sustainable growth, MSMEs should be encouraged to measure and minimize emissions. These value chains would have to be incentivised by their suppliers to reduce their carbon footprint. For India to adopt the net-zero goals, the MSME sector’s inclusion is necessary.
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